China Cinda gets HK go-ahead for up to $2 bln IPO-source

HONG KONG Thu Nov 7, 2013 11:06pm EST

HONG KONG Nov 8 (Reuters) - China Cinda Asset Management Corp, one of four companies set up in the late 1990s to manage the country's bad loans, received approval from the listing committee of the Hong Kong stock exchange to go public in the city, a source with direct knowledge said on Friday, clearing the way for its up to $2 billion deal.

The go-ahead means China Cinda will start pre-marketing the IPO to investors as soon as Monday, added the source, who was not authorized to speak publicly on the matter.

Bank of America Merrill Lynch, Credit Suisse , Goldman Sachs, Morgan Stanley and UBS were hired as joint global coordinators of the IPO, Thomson Reuters publication IFR previously reported.

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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