PE-backed China Cinda to raise $2.5b in Hong Kong IPO - report
PE-backed China Cinda Asset Management Corp, one of four groups set up to absorb non-performing loans (NPLs) from the country’s Big Four state-owned banks, is expected to raise up to $2.5 billion in its Hong Kong IPO.
According to IFR, Cinda will sell 5.3 billion shares at HK$3.00-3.58 apiece, although the size of the offering is still under discussion. CITIC Capital, UBS and Standard Chartered invested in the company...
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