China Cinda Asset Management’s Hong Kong IPO has drawn the interest of ten cornerstone investors including Norway’s sovereign wealth fund and Och-Ziff Capital Management Group, raising up to US$1.1 billion, South China Morning Post reported. Cinda, one of China’s four managers of bad debt, is seeking to raise US$2.5 billion and has attracted interest from distressed debt investors, hedge funds to China’s insurance giants. Together, the so-called cornerstone investors would buy about 45% of the offering, which is set to be Hong Kong’s biggest this year.
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