HONG KONG : China's securities watchdog has asked property management firm Zhuhai Wanda Commercial Management Group for more details on its corporate governance as part of its application for an initial public offering in Hong Kong.
The company would need to repurchase shares worth 40 billion yuan if the IPO is not completed by year end. Enquiries included whether the firm is providing guarantees to its controlling shareholder and related parties, dividend payout policy, and measures to ensure the IPO proceeds will not be used in real estate development.
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