Chinese billionaire Wang Jianlin's plan to relist his property empire on the mainland has cleared its biggest hurdle, with shareholders in Hong Kong-listed Dalian Wanda Commercial Properties approving Wang's application to delist.
Wang believes he can secure a higher valuation for the shopping mall developer in the domestic market, after disappointing trading and mediocre share performance since the December 2014 Hong Kong IPO. The delisting will be a blow to the Hong Kong bourse, costing it one of its biggest and most liquid stocks and potentially kicking off a wave of similar delistings.
Ahead of a shareholder meeting on Monday, the...
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