China Huarong invests in HK broker

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

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.

It is investing through its Macau arm, China Huarong Macau HK Investment Holdings.

The bonds can be converted into Freeman Fintech shares at HK$0.425 per share.

Assuming the company exercises...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222