Citic raises $140m from Cinda clean-up trade

The share sale comes after shares in the distressed debt manager jumped by 20% in just two days.

Citic raises $140m from Cinda clean-up trade

Citic Capital Financial raised $140 million on Thursday after offloading its entire stake in China Cinda Asset Management, taking advantage of a 20% two-day rise in the distressed debt manager's shares.

The accelerated share placement was launched late in the Hong Kong day under the joint leads of CLSA and Morgan Stanley, with 229.2 million secondary shares on offer at an indicative price of between HK$4.66 to HK$4.87 per share, according to a...

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