20 September 2018

Cinda Asset prepares for up to US$2.4 bln IPO, WSJ says

China Cinda Asset Management Co. is set to begin a pre-marketing exercise ahead of an initial public offering that could raise up to US$2.4 billion in Hong Kong’s biggest float this year, the Wall Street Journal reported Thursday. While it has expanded to areas such as insurance in recent years, Cinda makes most of its money buying up bad loans from Chinese banks and distressed assets from factories and real-estate firms, the report noted. 

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