2010-07-13 16:44

China Cinda Asset Management Corp, one of China's four State-owned asset managers, will officially complete its restructuring Friday with its shares fully controlled by the Ministry of Finance (MOF), financial website Caing.com reported Tuesday.

The new company has registered capital of 25.1 billion yuan ($3.70 billion), including 10 billion yuan injected by MOF at Cinda's establishment.

The ministry will consider bringing in more strategic investors and decide when the new company will go public, the report said.

In 1999, China's big four banks, along with the State Council, established the China Asset Management Co (AMC) to deal with the State-owned banks' non-performing assets. Cinda is the first among the four AMCs to complete restructuring.