Cinda gets $1.1 billion of cornerstone support

Ten cornerstone investors, including Oaktree, Och-Ziff and Farallon, will take up at least 45% of the IPO, which aims to raise between $2.05 billion and $2.45 billion.

Cinda gets $1.1 billion of cornerstone support

China Cinda Asset Management, one of China’s four distressed asset management companies AMCs, has signed up 10 cornerstone investors that will buy close to $1.1 billion worth of shares in its Hong Kong initial public offering, which opens on Monday.

Based on an indicated pre-greenshoe deal size of between HK$15.9 billion and HK$19.0 billion $2.05 billion and $2.45 billion that means the offering will be between 45% and 54% covered at...

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