August 10, 2017 / 1:28 AM / 3 months ago

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

HONG KONG, Aug 10 (Reuters) - Shares of Wanda Hotel Group , 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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