China Huarong invests in HK broker

Chinese bad debt manager invests $100 million in Hong Kong-listed securities brokerage.

China Huarong invests in HK broker

China Huarong Asset Management, one of China’s big four bad debt managers, is extending its reach into the brokerage business as it invests in Freeman Fintech, a Hong Kong-listed company that focuses on securities brokerage and corporate finance advisory services.

The bad debt manager is investing $100 million in the form of convertible bonds issued by Freeman Fintech, which have a four percent interest rate payable semi-annually to subscribers.

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