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HONG KONG, May 16, 2011 - (ACN Newswire) - Subsequent to the acquisition of shares of China Lumena New Materials Corp. by China Investment Corporation and CITIC Capital China Access Fund Limited, China Cinda (HK) Investment Management Co., Limited exercised in full, either directly or indirectly, its convertible bonds in China Lumena New Materials Corp. on 6 May 2011, which were converted into shares of the listed company.
Being upbeat about the development prospect of Sino Polymer which was acquired by China Lumena New Materials Corp. in the beginning of 2011, China Cinda had already invested in Sino Polymer by entering into an agreement on convertible bonds with Sky Success Investment Ltd, being one of the shareholders of Sino Polymer prior to the aforesaid acquisition. As it remains optimistic about the long-term development prospect of China Lumena New Materials Corp., China Cinda converted all convertible bonds into shares of China Lumena New Materials Corp. before June when the agreement on convertible bonds will expire, totaling 116,341,683 shares of the company. China Cinda (HK) Investment Management Co., Limited also increased its shareholding in China Lumena New Materials Corp. through market trading. China Cinda (HK) Investment Management Co., Limited expressed its intention to hold shares of the company in the medium to long run.
China Cinda Asset Management Co., Ltd is a sizable financial holding company approved by the State Council of the PRC and exclusively promoted by Ministry of Finance. As at the end of 2008, China Cinda Asset Management Co., Ltd, being the asset management company managing the largest amount of non-performing assets in China, had collected and acquired more than RMB1 trillion of non-performing assets in aggregate. China Cinda is also one of the most fully-licensed financial institutions in China and can provide diverse financial services covering asset management, fund management, investment, banking, property insurance, life insurance, securities investment banking, finance trust, finance lease and real estate development, etc. China Cinda (HK) Investment Management Co., Limited is the wholly-owned subsidiary of China Cinda Asset Management Co., Ltd in Hong Kong.
Topic: Issue of Stocks/Bonds
Source: China Cinda Asset Management
Sectors: Daily Finance
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From the Asia Corporate News Network
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