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China's Wanda to list film arm: report

Xinhua, November 25, 2015 Adjust font size:

Dalian Wanda Group Co. Ltd., a privately owned property conglomerate, plans to list its film production and distribution business within a year, China Daily reported on Wednesday.

Wanda has not decided whether the two units will be listed individually or together, the Beijing-based newspaper reported, citing Wanda Chairman Wang Jianlin.

"Once they go public, it will prompt even higher growth and position us at the top of the business chain," said Wang, among China's richest people.

Wanda's cinema unit is already China's largest cinema chain with nearly 2,000 screens, while its film production and distribution operations have also taken increased market share, despite being relatively new.

Wanda's film production and distribution arm grew faster than its cinema business this year. Its cinema chain was the first in China to list when it went public on the Shenzhen Stock Exchange in January 2015. Endi