HONG KONG: A group of 10 investors, including Norway’s sovereign wealth fund and OchZiff Capital Management Group LLC, have together committed to buy about US$1.1bil into China Cinda Asset Management Corp as part of its Hong Kong initial public offering (IPO), people familiar with the matter said.
Cinda, one of China’s four bad debt managers, is seeking to raise US$2.5bil through the Hong Kong IPO and the offer has attracted interest from distressed debt investors, hedge funds to China’s insurance giants.
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