21 February 2020

Cinda closer to Hong Kong listing, WSJ says

State-owned China Cinda Asset Management Co., a buyer of bad bank loans, is to seek approval this week to list in Hong Kong, aiming to as much as US$2 billion in an initial public offering, the Wall Street Journal reported Monday, citing people familiar with the situation. Cinda must first obtain approval from the China Securities Regulatory Commission (CSRC) before the listing plan can be considered by the Hong Kong Stock Exchange which meets every Thursday to review listing applications. If Cinda does not get the CSRC’s approval in the next two days, the Hong Kong listing hearing will be postponed beyond this week, the report said.

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