https://www.scmp.com/rss/309019/feed Cinda was set up in the late 1990s to deal with an estimated 1.4 trillion yuan worth of bad assets amassed by mainland banks. It was expected to raise as much as US$3 billion through a Hong Kong listing in the fourth quarter of 2013. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com China Cinda Asset Management, the first mainland bad-asset manager to list in Hong Kong, has priced its shares at the top end of its marketing range. The Beijing-based firm yesterday set a price of HK$3.58 for its shares after substantial institutional and retail interest in its anti-cyclical investment story of growing bad debt in a slowing economy. This means the company will raise HK$19 billion. Meanwhile, Qinhuangdao Port, the operator of the world's largest coal port, priced its shares at... https://www.scmp.com/business/money/markets-investing/article/1374109/china-cinda-finds-favour-investors?utm_source=rss_feed https://www.scmp.com/business/money/markets-investing/article/1374109/china-cinda-finds-favour-investors?utm_source=rss_feed Thu, 05 Dec 2013 21:09:12 +0000 China Cinda Asset Management plans to sell shares in a Hong Kong initial public offering at near the top end of a marketed price range to raise about US$2.5 billion, said two people with knowledge of the matter. Strong demand prompted the company to stop taking orders for shares yesterday, a day earlier than scheduled, said the sources. Institutional investors ordered several times the amount of stock available to them at the high end of the price range, they said. Cinda, one of four funds... https://www.scmp.com/business/money/markets-investing/article/1373237/cinda-price-ipo-near-top-range?utm_source=rss_feed https://www.scmp.com/business/money/markets-investing/article/1373237/cinda-price-ipo-near-top-range?utm_source=rss_feed Wed, 04 Dec 2013 22:00:25 +0000 Bad-debt management is a business not easy to understand. After spending two days trying to make sense of the 3.5cm-thick prospectus of China Cinda Asset Management Company, your columnist had to seek help from two bankers. "Don't waste your time on the numbers. What really matters is the policy," seemed to be the gist of their response. From the numbers, Cinda looks promising. Its profit increased from 2.1 billion yuan (HK$2.65 billion) in 2011 to 8.4 billion yuan in 2012 and stood at 3.5... https://www.scmp.com/business/banking-finance/article/1369214/cindas-sweetener-fails-hide-toxins-sugar-coated-poison?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/1369214/cindas-sweetener-fails-hide-toxins-sugar-coated-poison?utm_source=rss_feed Fri, 29 Nov 2013 20:27:48 +0000 China Cinda Asset Management, the first mainland bad-loan manager to seek a Hong Kong stock market listing, said it plans to increase the leverage of its balance sheet with a view to future growth on the back of an ample capital base. Beijing-based Cinda Asset, a specialist in troubled assets primarily engaged in the mainland's property sector, is also looking to diversify its financing channels as financial reforms on the mainland designed to give the market a bigger role threaten its previous... https://www.scmp.com/business/money/markets-investing/article/1367332/bad-loan-manager-cinda-use-ipo-leverage?utm_source=rss_feed https://www.scmp.com/business/money/markets-investing/article/1367332/bad-loan-manager-cinda-use-ipo-leverage?utm_source=rss_feed Wed, 27 Nov 2013 20:17:33 +0000 From impoverished beginnings in 1999, Cinda Asset Management, one of the mainland's managers of bad assets, rose to become the darling of investors and the embodiment of the new China investment story. Cinda, the bad-asset arm of China Construction Bank, is poised to start pre-marketing its US$2.5 billion Hong Kong float this week, but its convoluted business model has generated a flurry of questions concerning its ownership, operating responsibilities and future exits from troubled... https://www.scmp.com/business/money/markets-investing/article/1352970/doubts-cast-over-cindas-business-model-float-looms?utm_source=rss_feed https://www.scmp.com/business/money/markets-investing/article/1352970/doubts-cast-over-cindas-business-model-float-looms?utm_source=rss_feed Sun, 10 Nov 2013 21:15:00 +0000 China Cinda Asset Management is poised to begin pre-marketing for a US$2.5 billion share sale, after receiving listing approval from the Hong Kong stock exchange, bankers working on the deal say. [Cinda is seen] as a problem solver for [China’s] … non-performing assets INVESTMENT BANKER The company is one of four asset managers created in 1999 to take over the non-performing assets of the mainland's Big Four banks. Cinda will open a two-week pre-marketing campaign on Monday. After its... https://www.scmp.com/business/money/markets-investing/article/1351266/cinda-cleared-ipo-pre-marketing?utm_source=rss_feed https://www.scmp.com/business/money/markets-investing/article/1351266/cinda-cleared-ipo-pre-marketing?utm_source=rss_feed Fri, 08 Nov 2013 17:53:03 +0000 Hong Kong's listing market is on course for another year-end rush, with about 20 companies planning to launch share offerings. The listing hopefuls aim to raise at least HK$30 billion in total, including Cinda Asset Management's US$2.5 billion offer and Qinhuangdao Port's US$500 million plan. This will bring the amount of capital raised for the full year to about HK$100 billion. Cinda, one of the mainland's four non-performing asset managers, is expected to undergo a listing hearing with the... https://www.scmp.com/business/money/markets-investing/article/1348558/20-firms-line-year-end-ipo-rush?utm_source=rss_feed https://www.scmp.com/business/money/markets-investing/article/1348558/20-firms-line-year-end-ipo-rush?utm_source=rss_feed Tue, 05 Nov 2013 20:54:47 +0000 I am grateful to the reader who wrote in response to yesterday's Monitor, drawing my attention to the note concerning "debt securities classified as receivables" on page 133 of China Construction Bank's 2012 annual report. I know that doesn't sound exactly thrilling, but bear with me here. This gets interesting. In case you missed it, yesterday's column looked at the HK$15 billion initial public offering being lined up for China Cinda Asset Management. One of the four bad debt warehouses set up... https://www.scmp.com/business/article/1297927/less-toxic-cinda-still-isnt-great-buy?utm_source=rss_feed https://www.scmp.com/business/article/1297927/less-toxic-cinda-still-isnt-great-buy?utm_source=rss_feed Mon, 19 Aug 2013 16:00:00 +0000 At some point in the next few months, China Cinda Asset Management is likely to list on the Hong Kong stock exchange, in a mega deal that could raise HK$20 billion or more. Meanwhile, Cinda's counterpart, Huarong Asset Management, is busy lining up strategic investors ahead of an offering some time next year. The two companies will be sold to investors as universal financial services giants, with businesses on the mainland that range from banking and insurance, through asset management and... https://www.scmp.com/business/china-business/article/1297653/chinas-insolvent-toxic-waste-dump-cinda-sale?utm_source=rss_feed https://www.scmp.com/business/china-business/article/1297653/chinas-insolvent-toxic-waste-dump-cinda-sale?utm_source=rss_feed Sun, 18 Aug 2013 16:00:00 +0000 Cinda Asset Management, one of China's big four state-owned debt clearing agencies, is expected to apply for a Hong Kong listing next month, after a weekend "beauty parade" and talks with potential underwriters, according to bankers with direct knowledge of the deal. The size of Cinda's initial public offering (IPO) has not been finalised. Bankers expected the Beijing-headquartered asset manager to raise US$2.5 billion to US$3 billion from a float that would happen in the last quarter of the... https://www.scmp.com/business/companies/article/1296088/cinda-close-applying-hk-listing-sources?utm_source=rss_feed https://www.scmp.com/business/companies/article/1296088/cinda-close-applying-hk-listing-sources?utm_source=rss_feed Mon, 12 Aug 2013 03:49:55 +0000