China Huarong sells 21% stake for $2.4b

China Huarong Asset Management has brought in eight strategic investors, including Goldman Sachs, Warburg Pincus and Khazanah, ahead of a planned IPO next year.

Efforts to attract more private capital into China's sprawling state-owned enterprises gathered pace on Thursday when China Huarong Asset Management sold a 21% stake to eight strategic investors for Rmb14.5 billion ($2.4 billion).

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