Cinda As­set IPO or­ders are sell­ing at top of range

China Daily (Hong Kong) - - BUSINESSDIGEST -

China Cinda As­set Man­age­ment Co plans to sell shares in a Hong Kong ini­tial pub­lic of­fer­ing at near the top of a mar­keted price range to raise about $2.5 bil­lion, said two peo­ple with knowl­edge of the mat­ter. Strong de­mand prompted the com­pany to stop tak­ing or­ders for shares Tues­day, a day ear­lier than sched­uled, said the peo­ple, who asked not to be iden­ti­fied be­cause the in­for­ma­tion is pri­vate. In­sti­tu­tional in­vestors or­dered sev­eral times the amount of stock avail­able to them at the high end of the price range, they said.

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