Wanda said in talks for backdoor listing

Billionaire Wang Jianlin's Dalian Wanda Group Co is in takeover talks with several candidates to be the conglomerate's vehicle to list its property unit, according to people familiar with the matter.

Wanda is still holding talks with other potential targets for a backdoor listing of Dalian Wanda Commercial Properties Co after Shenzhen-listed Beijing Soft Rock Investment Group Corp dropped out, said the people, who asked not to be identified because the information is private. The people declined to name the backdoor-listing candidates and Wanda declined to comment on any targets.

A backdoor listing is when a company takes control of a publicly traded firm to bypass the screening process involved in an initial public offering.