PE-backed China Huarong launches Hong Kong IPO
Huarong Asset Management, one of four groups tasked with managing non-performing loans (NPLs) from Chinese state-owned banks, is looking to raise up to $3 billion in a Hong Kong IPO.
The Chinese bad debt manager is offering a total of 6.31 billion shares, including no more than 607 million shares from China's Ministry of Finance and a maximum 17 million shares from state-backed food...
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