Wanda Commercial soars on plans to take the company private

Shares of Dalian Wanda Commercial Properties Co Ltd soared more than 18 percent on the Hong Kong Stock Exchange on Thursday after its parent Dalian Wanda Group said it was considering taking the company private just 16 months after listing.

The stock surged 18.43 percent to close at HK$45.95 ($5.93). Meanwhile, the benchmark Hang Seng Index edged down 0.13 percent, or 26.69 points, to close at 20,776.70.

Dalian Wanda, established by billionaire Wang Jianlin, said in a statement on Wednesday it was looking into buying all of its shares back for HK$48 a share, the offering price it listed, marking a 24 percent premium to its Wednesday close.