Cinda bankers confident that IPO will put paid to questions over business model

China Cinda Asset Management started premarketing its $2bn-$3bn listing on Monday. If successful, it will be the biggest IPO of the year in Hong Kong, but some market watchers are fretting about the difficulty of assessing the company’s business model. The Cinda of 2013 looks very different to the entity that was set up in 1999 to help tackle China’s Rmb8.9tr ($1.45tr) of bad loans, writes Rev Hui.