Apparently Wanda is doing the job to IPO their sport business in the US.
500m$ expected for their sport entity, including WTC (IronMan), InFront Sport & Media, and maybe some others items.
WTC was bought 650m$, so probably they were not successful getting a good price via a direct sale...
They clearly overpaid for WTC, and certainly this is not their only business mistake. Apparently Chinese government is pushing them (and other chinese groups "not in good shape") to clear their positions, and get a bit of cash.