In the ongoing saga revolving around increased scrutiny of outbound Chinese investors, especially those coveting global hotel assets, Wanda Hotel Development requested a trading halt on Wednesday for a “possible asset restructuring” involving a connected person of the company, according to a Financial Times report.
The subsidiary of Hong Kong-based Dalian Wanda denied reports it was exploring the sale of two major property developments in Australia.
Wanda Hotel Development is developing mixed-use projects in China, as well as in the UK, Spain, the United States and Australia.
The FT reported that the company’s stock price has risen almost 80% since Wanda last month announced plans to sell domestic tourism and hotel assets to Sunac for US$9.3 billion – a deal that was later rejigged to include Guangzhou R&F Properties.