China's Wanda Group approaches Citigroup, CLSA, UBS for $1b sports unit IPO

China's Wanda Group approaches Citigroup, CLSA, UBS for $1b sports unit IPO

Dalian Wanda Group's Wanda Plaza building is pictured in Beijing, China, May 17, 2016. REUTERS/Kim Kyung-Hoon/File Photo

Chinese conglomerate Dalian Wanda Group has tapped three banks including Citigroup Inc and UBS Group AG to work on a proposed initial public offering for its sports businesses, four people with knowledge of the matter told Reuters.

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