Headlines from China: Wanda Sports to Launch US IPO This Week

Wanda Sports to Launch US IPO This Week

On July 12, Wang Jianlin’s Wanda Group updated the prospectus for the upcoming US IPO of its sports unit Wanda Sports. After verifying with reliable sources, National Business Daily has confirmed that Wanda Sports will launch its US IPO on Nasdaq on July 26. According to the recently updated prospectus, the company priced the offering at $12-$15 for a total offering size of $575 million. The Beijing-based Wanda Sports has had partnerships with FIFA and the Chinese Basketball Association, owns sports properties and generates revenue from events, sponsorship and media pacts. Although Wanda Sports’ properties have high commercial values, the company’s deep in debt due to heavy spending over the past few years. Read more on  Ent Group

The Filming of ‘Detective Chinatown 3’ Has Started

According to sources familiar with the matter, the shooting of ‘Detective Chinatown 3’ has started. A photo of the launch ceremony for the shooting is also being circulated on the internet. As the third installment of Chinese director Chen Sicheng’s Detective Chinatown film series, this film is set in Tokyo and will continue to feature Wang Baoqiang and Liu Haoran. Following the box office success of Detective Chinatown 2 during the 2018 Chinese new year holiday, Detective Chinatown 3 will be released during the 2020 China New Year season. Read more on Maoyan Film