HONG KONG (Reuters) - Shares of Wanda Hotel Development Co Ltd are set to open up 48 percent on Tuesday, a day after the Hong Kong-listed unit of Dalian Wanda Group announced sales of two Australian projects for a total of about $913 million.
The stocks are set to open at HK$2, the highest open since Aug. 17. That compared with a 0.7 percent fall in the benchmark Hang Seng index.
Chinese conglomerate Dalian Wanda Group has agreed to sell its two Australian projects to a China-backed developer for a total of A$1.13 billion in equity and assumed debt.
Reporting by Donny Kwok; Editing by Himani Sarkar