China Huarong secures $2.4b from investors ahead of IPO
A group of private investors will pay RMB14.5 billion ($2.35 billion) for a combined 20.98% stake in China Huarong Asset Management, one of four groups tasked with managing non-performing loans (NPLs) from state-owned banks, ahead of a planned public listing.
The consortium includes China Life Insurance, Warburg Pincus, Goldman Sachs, CITIC Securities International, Malaysia's Khazanah Nasional, China International Capital Corp. (CICC), COFCO Group and Fosun...
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