China’s Wanda aims to create fund of up to $12.4 billion, Bloomberg News reports

(Reuters) – Chinese property giant Dalian Wanda has told some investors it plans to establish a fund of about 50 billion yuan to 90 billion yuan ($6.91 billion – $12.44 billion) to pay taxes and debt, Bloomberg News reported on Friday, citing people familiar with the matter.

($1 = 7.2322 Chinese yuan renminbi)