China’s Wanda files for US IPO of sports unit to raise up to $500m

Dalian Wanda Group's Wanda Plaza building is pictured in Beijing, China, May 17, 2016. REUTERS/Kim Kyung-Hoon/File Photo

Chinese conglomerate Dalian Wanda Group has filed confidentially for a U.S. initial public offering of its sports unit that could fetch up to $500 million, according to sources with direct knowledge of the matter.

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