Wanda responds to market rumors
"Wanda’s sales performance is fraudulent", "20 Wanda plazas 16 billion sold" "will be acquired by China Resources Group"… Recently, there have been rumors about Wanda on the Internet.
On the 26th, in response to multiple rumors, the joint stock company of Dalian Wanda Commercial Management Group (hereinafter referred to as "Dalian Wanda Commercial Management") issued an announcement to urgently refute the rumors and make a centralized response.
▲ Screenshot from Dalian Wanda Commercial Management Group joint stock company announcement
Rumor 1: Due to the delay in the listing date,
Trigger $1.30 billion syndicated loan prepayment?
Dalian Wanda Commercial Management said in the announcement that after consulting with Wanda Group, the controlling shareholder of the issuer, Wanda Group currently has a total of three US dollar syndicated loans overseas, with a total stock of 1.30 billion US dollars, and the borrower is not the issuer. According to the agreement, if Zhuhai Wanda fails to complete the listing before May 8, 2023, if more than 66.67% of the participating banks demand repayment, Wanda Group needs to return the loan.
After Wanda Group communicated with the participating banks, as of the date of this announcement, no bank has proposed that Wanda Group repay in advance, and there is no risk of triggering this clause.
On August 20, 2021, Zhuhai Wanda Commercial Management applied to the China Securities Supervision Commission for listing of Hong Kong stocks, which was accepted on October 11, 2021, and submitted the listing application to the Hong Kong Stock Exchange on the 21st of the same month. After that, Zhuhai Wanda Commercial Management submitted the listing application materials on the Hong Kong Stock Exchange again on April 22, 2022 and October 25, 2022. Since the implementation of the new regulations on overseas issuance and listing on March 31, 2023, Zhuhai Wanda Commercial Management has actively responded and submitted the filing materials on April 13, and the China Securities Supervision Commission accepted the filing materials on April 20.
Rumor 2: Multiple performance fraud?
In response to rumors of fraudulent performance, Dalian Wanda Commercial Management said that the internal management of the issuer and its subsidiaries is standardized, the degree of informatization is high, and the internal control mechanism is perfect, establishing perfect statistical rules, statistical caliber, and statistical methods.
The financial data disclosed by the issuer are audited by well-known auditing institutions, and the business data is confirmed by Zhuhai Commercial Listing Co-sponsor and other institutions with due diligence.
▲ Screenshot from Dalian Wanda Commercial Management Group joint stock company announcement
Rumor 3: Will it be acquired by China Resources Group?
Dalian Wanda Commercial Management said that China Resources Land, a subsidiary of China Resources Group, has officially responded by denying the acquisition of Wanda Real Estate Group, calling the information a rumor and the relevant rumors untrue.
Rumor 4: Wanda is considering a sale
20 shopping malls?
Dalian Wanda Commercial Management said that the company has no plans to directly sell 20 commercial plazas that have opened in Jiangsu, Zhejiang and Shanghai, and online rumors are not true.
As of the end of 2022, the company owned and operated 472 commercial plazas, including 288 self-contained plazas, which were characterized by clear property rights, stable cash flow, and large long-term value-added space. After the cultivation period, it can become a qualified asset for consumer infrastructure ABS and REITs.
▲ Screenshot from Dalian Wanda Commercial Management Group joint stock company announcement
It is worth noting that not long ago, there were media reports that Wanda Group will start large-scale layoffs before June to reduce personnel costs. On May 20, Wanda Group released a statement on its official website saying that the news of Wanda’s large-scale layoffs was untrue.
Original title: "Wanda Responds to Market Rumors"
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