Size is not everything, except when it is. Dalian Wanda will vault past peers to become the largest Hong Kong-traded Chinese property company, with a market capitalisation of up to $30bn, when it lists this year.
China Overseas Land and Investment and China Vanke— next in line — are valued at $25bn and $22bn, respectively. Such size could warrant a fast track into MSCI indices.
Dalian Wanda has got here quickly. In just over a decade, founder and ex-People’s Liberation Army soldier Wang Jianlin has built the company’s (pre-offering) net asset value to nearly $20bn. It is more than just large: Dalian Wanda is also unusual among private China property developers for its reach, with 175 projects in 111 cities.
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