Cinda Asset Management, one of China’s state-owned asset management companies (AMC) created to buy up non-performing loans, is expected to apply to go public in Hong Kong next month.
The IPO is expected to raise $2.5 – $3 billion. The South China Morning Post reports that bankers handling the transaction say the listing has already “already attracted strategic investors due to its business’s ‘counter-cyclical’ nature at a time when growth in the world’s second-biggest economy is slowing.”
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