Shares in property developer Dalian Wanda Commercial Properties fell on the first day of trading in Hong Kong after the company’s initial public offering, the proceeds of which will be used to fund the development of 10 shopping malls across China.
Ratings firm Fitch Ratings said in a report it expected revenue growth of around 30% a year over the next two to three years for the company.
“The biggest risk to Wanda’s ratings is a sharp and sustained property market correction, which will result in tighter liquidity,” analysts at Fitch said.
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