Huarong Set to Receive $6.6bn via Share Sale
Distressed state-owned asset manager China Huarong announced via an exchange filing on Wednesday that it is set to receive RMB 42bn ($6.6bn) via a non-public share sale to a consortium of state-backed investors as part of its bailout announced in August. As part of...
Huarong Gets Approval to Raise $11bn bond in Interbank market
China Huarong Asset Management has been granted approval to raise RMB 70bn ($11bn) of bonds in the interbank market, which will be used to purchase, dispose non-performing assets and for other main businesses, according to the China Banking and Insurance Regulatory...
Huarong’s Shareholders Approve Plan to Sell Assets, Raise Capital
China Huarong Asset Management Co. had its much-delayed AGM on Thursday where it received shareholder approval for the following special resolutions: Issue the remaining RMB 10bn ($1.6bn) of its capital bond quota Allow the board a mandate to issue up to 20% of its...
