An IPO would follow a string of asset sales as Wanda works to meet debt repayment deadlines. It was one of several domestic conglomerates to be targeted by a government crackdown last year for aggressive overseas acquisitions, with sources saying banks were told to stop providing funding for some deals.
The incentive will be paid from a five-year, USD 750 million fund created by Wanda and the local government in Qingdao, officials told a group of Hollywood executives in producers seated in a theater at the Los Angeles County Museum of Art.
Reuters reported earlier this month that Dalian Wanda had outbid potential buyers for Ironman, entering exclusive talks to finalize the deal with WTC's owner, private equity firm Providence Equity Partners LLC.
Property developer Wang Jianlin, 58, founder of Dalian Wanda Group, was surrounded by Hollywood stars John Travolta, Nicole Kidman and Catherine Zeta-Jones on Sunday as he launched his most ambitious project yet in the picturesque coastal city of Qingdao.
Billionaire Anil Ambani's Reliance Group said on Thursday it signed an accord with China's Dalian Wanda Group to set up a joint venture to work in areas including development of real estate and multiplex business.