HONG KONG Dec 5 China Cinda Asset Management Co
Ltd, the country's biggest bad debt manager, is set to raise
$2.5 billion after pricing its Hong Kong IPO at the top of the
marketing range, a source with direct knowledge of the plans
said on Thursday.
Cinda priced the initial public offering at HK$3.58 per
share, compared with an indicative range of HK$3.00-HK$3.58,
added the source, who was not authorized to speak publicly on
The company offered 5.32 billion new shares in the IPO,
putting the deal value at about HK$19 billion ($2.5 billion).
Bank of America-Merrill Lynch, Credit Suisse
, Goldman Sachs and Morgan Stanley acted
as sponsors of the IPO, with China Merchants Securities, UBS
and 12 other banks also helping to manage the deal.
($1 = 7.7524 Hong Kong dollars)
(Reporting by Denny Thomas and Elzio Barreto; Editing by