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Bad loans make good business for China Cinda

Distressed debt firm posts 4.06b yuan H1 profit, seeks up to US$2.5b in IPO

[HONG KONG] China Cinda Asset Management Co Ltd lifted the lid on how Beijing turns bad loans from its banks into profits, issuing a prospectus yesterday for an initial public offering that has reeled in some of the world's biggest investors.

The IPO, seeking up to US$2.5 billion, is set...

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