Wang Jianlin reward 12% rate of return to find investors

Wang Jianlin rate of return investors arbitrage

xinlangcaijing· 2016-04-21 17:03:18

< p > according to Bloomberg said China rich wangjianlin believe who helped him to complete the Dalian Wanda Commercial real estate from the Hong Kong transferred back to the Chinese mainland listing plan of investors will be able to profit from the deal, Wang Jianlin, this confidence that he was willing to sign a piece of paper on the gambling agreement.

Wanda issued a document to potential investors, the group is looking for potential investors to help them acquire Wanda Commercial real estate 14.41% of the highest shares. This is the amount of shares listed in Hongkong Wanda Commercial currently does not be controlled by Wang Jianlin and other mainland shareholders. < If Wanda Commercial real estate before August 31, 2018, or from Hong Kong to withdraw from the market two years later, still unable to reach a listed on the mainland, Wanda Group will share repurchase, repurchase price will ensure for investors in the country with 12% annual rate of return, overseas investment is 10%. To prove their confidence, Wanda said that some of the real estate companies listed on the mainland, they are listed on the valuation of the Hongkong real estate companies are more than three times.

according to this document, if you take into account the Wanda Commercial Real Estate in Hongkong's stock price was seriously underestimated, then the conditions provided by the Wanda investors to create a very lucrative arbitrage space". Bloomberg news got a copy of the document.

before Wang Jianlin, there are a number of Chinese business leaders who want to get a higher valuation of the company to try to get them from Hongkong and New York city. Citigroup in a report released on April 18, said Chairman of Evergrande real estate that the company's Hong Kong stock valuation is distorted. In view of this, Hengda may consider privatization and then transferred to the mainland China market. In spite of this, market analysts said that such transactions obstacles is very high, and valuation differences between the two may also not Wanda analysis described as with certainty.

valuation changes

mainland of China listed real estate stocks average expected earnings of 29 times, Wanda said of the valuation is based on the basis of four companies, and the company's business scope includes free trade zone and Development Zone Management, and Wanda Commercial real estate is a real estate developers and shopping center operators. If the list of 18 mainland listed real estate stocks from a larger list of words, this list is also referred to Wanda, then the average valuation has dropped to 13.8 times. < p > Bloomberg data collected show that contains 10 constituent stocks of the Hang Seng property index of the expected profit rate 11.45 times, if the scope expanded to 53 listed in Hong Kong of funded real estate stocks of words, then the valuation multiples to drop to only 6.5 fold. In some cases, the valuation differences also appear upside down. Shanghai listed Poly Real estate price earnings ratio is only 6 times, while its sister company Poly home in Hongkong listed, there are 23 times earnings.

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