Standard Chartered, UBS and Citic Capital are in discussions to invest in China Cinda Asset Management, a company created to clean up debt in China’s banking system, according to people familiar with the situation.
Bringing these three institutions on board as investors would help pave the way for a stock market listing by Cinda, highlighting its transformation over the past decade from a “bad bank” to a financial group that includes brokerages, trusts and leasing companies.
Cinda would be China’s first asset management corporation to partner with international strategic investors, opening up a new segment of the Chinese financial sector to foreign money.
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