--FILE--View of a Wanda Plaza in Jinan, east Chinas Shandong province, 7 May 2013. Chinese property developer Dalian Wanda Group is reportedly seeking a backdoor listing in Hong Kong after becoming the largest shareholder in the publicly traded Hengli Commercial Properties, with an investment of HK$675 million (US$87 million), reports Guangzhous 21st Century Media Group. Wanda has applied for an initial public offering in Hong Kong four times since 2008 but has yet to succeed, hindering the groups development and its ability to raise funds. The developer is undertaking 40 construction projects this year, with costs estimated at more than 200 billion yuan (US$32 billion), beyond the financial means of the company. According to a 2012 financial report, Wanda had reported assets of 300 billion yuan (US$48.3 billion), but its profits were pegged at only 10 billion yuan (US$1.6 billion).
