China’s first bad loan manager to float on a stock exchange is expected to buy up to Rmb100bn in fresh distressed debts over the next two years as the country’s banks see a near doubling of non-performing loans, according to analysts.
Cinda, which begins marketing its $2.5bn Hong Kong share sale to institutional investors on Monday, will see its distressed debt book grow more than 50 per cent through buying these bad loans, according to non-public pre-sale research viewed by the FT.
The initial public offering of about 15 per cent of the group is being pitched to investors as a counter-cyclical bet, or a way to make money from China’s economic slowdown, rebalancing and the rising cost of funding for its companies.
您已閱讀50%（721字），剩餘50%（727字）包含更多重要資訊，訂閱以繼續探索完整內容，並享受更多專屬服務。