China Cinda to Raise Up to $2.5 Billion in Hong Kong IPO

November 25, 2013

On November 21, 2013, Reuters reported that China Cinda Asset Management Corp., one of China’s four bad loan managers, plans to raise up to $2.5 billion (HK$19 billion) in its Hong Kong initial public offering.

On November 21, 2013, Reuters reported that China Cinda Asset Management Corp. plans to raise up to $2.5 billion in its Hong Kong initial public offering.  Cinda is one of four asset management companies established in 1999 to absorb toxic assets held by China’s four largest banks.  Cinda, set up to take on bad loans from China Construction Bank, is the most profitable of the four bad loan managers and the first to commence an initial public offering.  Cinda will offer 5.3 billion shares at HK$3.00 to HK$3.58 per share, but Reuters reports that the final number of shares has not definitively been decided. 

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Investment Manager Financings, Transactions