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Wanda Hotel shares set to open up 21 percent on asset restructuring
August 10, 2017 / 1:34 AM / 4 months ago

Wanda Hotel shares set to open up 21 percent on asset restructuring

HONG KONG (Reuters) - Shares of Wanda Hotel Group (0169.HK), a unit of Chinese conglomerate Dalian Wanda Group led by Wang Jianlin, were set to surge nearly 21 percent after it said it would buy assets worth about $1.05 billion from Wang-controlled companies.

    The stock, which resumed trade on Thursday after being suspended for a day pending the announcement, was set to open at HK$1.40.

    Reporting By Donny Kwok and Anne Marie Roantree; Editing by Himani Sarkar

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