China's Wanda raising $3b ahead of HK IPO for property management unit

China's Wanda raising $3b ahead of HK IPO for property management unit

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 aims to raise 20 billion yuan ($3.08 billion) for its commercial property management business, before listing the unit in Hong Kong by year-end, two people with direct knowledge of the matter told Reuters.