Huarong hopes to complete IPO in H1

China Huarong Asset Management Co Ltd is attempting to complete its initial public offering in Hong Kong in the first half of next year, said Chairman Lai Xiaomin, Beijing Business Today reported.

Lai, who is also a deputy of the National People's Congress, said Huarong is set to finish bringing in strategic investors in the first half of this year and, apart from introducing foreign investors, he also wishes to explore mixed ownership, for example, introducing private capital as strategic investments.

Huarong completed its shareholding system reform in 2012. Previous reports said it is expected to introduce Goldman Sachs, Deutsche Bank and Morgan Stanley as strategic investors, but that has yet to be confirmed.

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