Huarong split over investor plan ahead of Hong Kong IPO

Lai Xiaomin, chairman of China Huarong Asset Management (left). Morgan Stanley and Goldman Sachs are in advanced talks to take a stake in Huarong.

Huarong, the biggest of the four funds the central government set up to remove an estimated 1.4 trillion yuan (HK$1.76 trillion) of bad loans from the top four state banks as they prepared for initial public offerings, has reportedly been looking to raise up to US$2 billion by selling a stake of 15 to 20 per cent.

Wednesday, 24 July, 2013, 7:46am