The shares of Dalian Wanda Commercial closed at 46.75 Hong Kong dollars, or $6.03 — 2.6 percent below the initial public offering price of 48 dollars.

Yesterday, Stock in Chinese largest shopping mall developer Dalian Wanda Commercial fell as much as 8.8 percent before regaining ground. The shares closed at 46.75 Hong Kong dollars, or $6.03 — 2.6 percent below the initial public offering price of 48 dollars.

Wan Jianlin,chairman and president of Dalian Wanda Group Corp Ltd, topped the Forbes China Rich List in 2013 with an estimated net worth of $14.1 billion, but was displaced this year by charismatic Internet entrepreneur Jack Ma after he floated his e-commerce powerhouse Alibaba Group in the world`s biggest ever initial public offering (IPO). Ma`s fortune is now estimated at nearly $20 billion.

Hurun Research Institute has estimated that if the stock of Wanda commercial real estate can rise 30%, Wang will displace Jack Ma to be mainland’s richest man. But it is unrealized, so Mr. Wang is still ranked China`s Third-richest man.