万达在中国内地上市的潜在借壳对象宣布终止谈判

 　　A potential host for Wanda’s backdoor listing in China has pulled out of talks, causing a headache for Wang Jianlin, China’s richest man, as he seeks to replace a poorly performing Hong Kong listing with the higher valuations offered in Shanghai and Shenzhen.

　　万达(Wanda)在中国内地上市的潜在借壳对象宣布终止谈判，这或许会让中国首富王健林感到头疼，目前他正寻求回归A股，用上海和深圳的较高估值取代表现不佳的香港上市。

　　Shenzhen-listed Soft Rock Investment Group yesterday said it had dropped out of discussions over an asset swap¹ deal to restructure itself as Wanda Commercial Properties’ shell.

　　深圳上市的绵石投资集团(Soft Rock Investment Group)昨日表示，其已退出关于将自身重组为万达商业地产(Wanda Commercial Properties)上市外壳的资产置换协议的谈判。

　　Mr Wang paid $4.4bn earlier this year to privatise Dalian Wanda Commercial Properties just 18 months after listing in Hong Kong. The privatisation was the biggest such deal by a Chinese group in the city, and its success in relisting onshore was being closely watched as a template that others might follow.

　　王健林今年早些时候斥资44亿美元，将在香港上市仅一年半的大连万达商业地产公司收归私有。那是中资集团在香港进行的规模最大的私有化交易，其在内地重新上市的成败受到密切关注，被视为其它公司可能效仿的模板。

　　More than $12bn of take-private deals by Chinese companies have been announced this year, following $21.7bn last year, according to Dealogic. Most are believed to be seeking a mainland listing, where valuations are higher than those in New York or Hong Kong.

　　Dealogic的数据显示，今年迄今中资企业宣布了超过120亿美元的私有化交易，而去年全年达到217亿美元。据信多数交易是为了寻求在估值高于纽约或香港的内地交易所上市。

　　But the potential for a wave of backdoor listings has raised concerns among Chinese regulators, worried that companies will escape the scrutiny² of the initial public offering process by reversing into already-listed shells.

　　但是，出现一波后门上市的可能性引起了中国监管机构的关注，他们担心企业通过借壳上市逃避首次公开发行(IPO)过程的审查。

　　Shares in scores of companies suspected to be shells in search of a backdoor buyer have leapt in Hong Kong as well as the mainland this year, as tighter bank funding conditions have pushed executives to seek other funding routes including public equity³.

　　今年以来，香港和内地股市有几十家疑似潜在外壳、正在寻觅后门买家的公司股价飙升，其背景是银行融资条件有所收紧，促使管理层物色其他融资渠道，包括公共股本。

　　Shells in Shanghai and Shenzhen also provide a means of jumping the queue of several hundred mainland companies seeking regulatory approval for an IPO.

　　在上海和深圳上市的外壳，还提供了跳过数百家排队等候IPO监管审批的内地公司的手段。

　　Soft Rock said in a statement to the Shenzhen bourse: “Because the relevant parties could not reach an agreement on the timeframe of this major restructuring, in order to protect shareholder⁴ interests?.?.?.?we have decided⁵ to end the restructuring plans.”

　　绵石投资在提交深圳证交所的一份公告中表示：“鉴于相关各方未能就本次重大资产重组的时间安排协商达成一致，为维护全体股东利益……公司决定终止本次重大资产重组事项的筹划。”

　　Wanda said it “only had preliminary contact” with Soft Rock and “did not enter formal discussions for restructuring Wanda Commercial Properties, nor did we reach any common purpose”.

　　万达表示，只与绵石投资“进行初步接触”，“未就万达商业重组进行正式协议谈判，也未达成任何一致意向”。

1 swap   

n.交换；vt.交换，用...作交易

参考例句：

• I will swap you my bicycle for your radio.我想拿我的自行车换你的收音机。
• This comic was a swap that I got from Nick.这本漫画书是我从尼克那里换来的。

2 scrutiny   

n.详细检查，仔细观察

参考例句：

• His work looks all right,but it will not bear scrutiny.他的工作似乎很好，但是经不起仔细检查。
• Few wives in their forties can weather such a scrutiny.很少年过四十的妻子经得起这么仔细的观察。

3 equity   

n.公正，公平，（无固定利息的）股票

参考例句：

• They shared the work of the house with equity.他们公平地分担家务。
• To capture his equity,Murphy must either sell or refinance.要获得资产净值，墨菲必须出售或者重新融资。

4 shareholder   

n.股东，股票持有人

参考例句：

• The account department have prepare a financial statement for the shareholder.财务部为股东准备了一份财务报表。
• A shareholder may transfer his shares in accordance with the law.股东持有的股份可以依法转让。

5 decided   

adj.决定了的，坚决的；明显的，明确的

参考例句：

• This gave them a decided advantage over their opponents.这使他们比对手具有明显的优势。
• There is a decided difference between British and Chinese way of greeting.英国人和中国人打招呼的方式有很明显的区别。