(MENAFN) China Cinda Asset Management said that it plans to launch an initial public offering (IPO) in Hong Kong, Xinhua reported.
The company is expecting to raise USD2.19 billion as it will be listed on December 12 on the Hong Kong Stock Exchange.
The funds raised through the IPO are intended to replenish the company"s capital as 60 percent of it will be for the development of its core business of bad asset management, the company said.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.