Huarong's $2.5b IPO leans on cornerstones

Ten mainly Chinese state-backed cornerstone investors have committed $1.6 billion for approximately 70% of the shares on offer.
October 15, 2015

China Huarong Asset Management, the country's largest "bad bank" by assets, is leaning heavily on cornerstone investors to ensure its $2.5 billion initial public offering later this month gets away without a hitch.

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