BEIJING, June 8 (Reuters) - China's largest commercial property developer Dalian Wanda Group on Thursday said it is appealing a court decision to freeze 1.9 billion yuan ($266.23 million) worth of shares it owns in a subsidiary.
Two Shanghai court notices dated Monday showed the group cannot trade or otherwise use its shares in property manager Dalian Wanda Commercial Management Group until June 4, 2026.
It also said the value of shares frozen far exceeded the amount in that dispute.
It is also pursuing an initial public offering in Hong Kong of subsidiary Zhuhai Wanda which has stalled while awaiting regulatory approval.
($1 = 7.1368 Chinese yuan renminbi)Reporting by Beijing newsroom and Clare Jim in Hong Kong; Editing by Himani Sarkar and Christopher CushingOur Standards: The Thomson Reuters Trust Principles.
Persons:
Clare Jim, Himani Sarkar, Christopher Cushing
Organizations:
Dalian Wanda Group, Dalian Wanda Commercial Management Group, Zhuhai, Beijing, Clare, Thomson
Locations:
BEIJING, Shanghai, China, Hong Kong