China Orient Asset Management Corp. aims to get listed on the stock market towards the end of 2015, the Economic Information Daily reported Friday, citing the firm’s president Zhang Ziai. The company’s restructuring plan has been submitted to the finance ministry and the China Banking Regulatory Commission for approval, Zhang was quoted as saying. If the plan is approved in the first half this year, the company would strive for a listing at the end of next year at the earliest, he said. Orient AMC, one of the four AMCs which were set up in 1999 to dispose Chinese banks’ bad debts, posted pre-provision operating profit of 11 billion yuan (US$1.8 billion) for 2013, up 80 percent from the previous year.
– Contact HKEJ at [email protected]