Shanghai court ordered freezing of 1.98 bn yuan of shares of Dalian Wanda unit
STOCKS
Shanghai court ordered freezing of 1.98 bn yuan of shares of Dalian Wanda unit
STOCKS

Shanghai court ordered freezing of 1.98 bn yuan of shares of Dalian Wanda unit

 

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A court in Shanghai has ordered the freezing of 1.98 billion yuan ($278.18 million) worth of shares of Dalian Wanda Commercial Management Group, a unit of Dalian Wanda Group, China’s largest commercial property developer. 

According to two court notices dated on Monday, the shares worth a total of 1.98 billion yuan were ordered frozen until June 4, 2026, company information system TianYanCha showed. 

S&P Global downgraded Dalian Wanda Commercial Management Group on Monday to ‘BB’ from ‘BB+’, citing weakening liquidity of its parent.  “We see heightened risks from Dalian Wanda Group’s narrowing financing channels due to extended delay in Zhuhai Wanda’s IPO. Weaker property sales than we expected for Wanda Properties Group Co Ltd, a sister company of Wanda Commercial, have worsened the situation for the group.”