China's top securities regulator has asked a Dalian Wanda Group subsidiary seeking a Hong Kong initial public offering to provide more information about its business and its connections to shareholders.
The China Securities Regulatory Commission (CSRC) requested that Zhuhai Wanda Commercial Management Group submit additional material to explain its transactions with shareholders, as well as measures it takes to prevent funds from being embezzled by shareholders and avoid providing guarantees for its controlling shareholder's financing, according to a CSRC document released Friday.
