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ISAAC LAWRENCE/AGENCE FRANCEPRESSE |
Dalian Wanda, which raised $3.7 billion in the largest initial public offering in Asia, fell on its first day of trading on Dec 23.
Shares in Dalian Wanda Commercial Properties, the world's second-largest developer of shopping malls and offices, fell by as much as 8.8 percent from their offer price of HK$48 ($6.2) in morning trading.
They regained ground later in the day to close at HK$46.75. The Hang Seng Index was 0.3 percent down.
Rupert Hoogewerf, chairman and chief researcher of the Hurun Report, which compiles the widely followed Chinese rich list, predicted this month that Wanda's share price would have to rise by at least 30 percent for Wang to overtake Ma as China's richest.
In comparison, Ma's Alibaba soared by 38 percent on its New York Stock Exchange debut.
Stock analysts and wealth watchers say Wanda Commercial's cool reception on its Hong Kong debut has reduced the value of Wang's stake in the company by about $300 million.
This is about 1.2 percent of Wang's estimated personal net worth of $24.8 billion, according to the Bloomberg Billionaire's Index.
But Wang is still ahead of Mukesh Ambani, India's richest man, ensuring that the top three places on the list of Asia's wealthiest are all Chinese.
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