DALIAN Wanda Commercial Properties may seek a backdoor listing on the Shanghai Stock Exchange if it does not get regulatory approval to launch a planned initial public offering (IPO) soon, according to sources with knowledge of the matter.

    The prospect of buying a shell company as a means to establish a listed presence in Shanghai, known as a backdoor listing, was raised internally at the same time as parent Dalian Wanda Group worked out plans to take the Hong Kong-listed real estate developer private, one of the sources said.

    The company, with a market capitalization of close to US$30 billion, is planning to delist from Hong Kong just 15 months after its stock market debut, unhappy with its share performance and preferring to place its bets on an upcoming Shanghai listing, after submitting an application last year.

    As part of its plans to delist from Hong Kong, Dalian Wanda has offered to make around US$1 billion in interest payments to investors if fails to re-list the property developer in Shanghai within two years of taking it private. (SD-Agencies)