China Cinda Asset Management - one of four "bad banks" launched in 1999 to house toxic debt from...

|By:, SA News Editor

China Cinda Asset Management - one of four "bad banks" launched in 1999 to house toxic debt from the country's lenders - reportedly plans a $3B Hong Kong IPO  next year. The fund raised $1.7B a year ago from a number of investors, giving it a valuation in the area of $12B.