Cinda Asset Administration has unexpectedly withdrawn from the recapitalisation of Chongqing Ant Shopper Finance barely three weeks after asserting it, including a shocking twist to the restructuring of China’s largest fintech firm.Cinda stated its board determined “to not take part” within the plan to pay 6 billion yuan (US$930 million) for a further 20 per cent stake in Chongqing Ant, based on a submitting to the Hong Kong inventory trade signed by the bad-loans supervisor’s chairman Zhang Zi’ai…
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Cinda drops out of US$930 million plan to raise stake in Chongqing Ant, adding a surprise in the restructuring of world’s largest fintech group
