Asset Management Company to Start Asset SalesThe China Great Wall Asset Management Corporation (AMC) plans to sell 120 packages of asset portfolio to domestic and foreign investors at the upcoming Beijing High-tech Week, to be held here next week.Wang Xingyi, president of the AMC, said Friday that the total package is valued at 12.7 billion yuan, covering 19 fields, such as energy, telecommunications, petroleum, chemical, bio- pharmaceutical, high-tech material, textile, real estate, tourism and oceanic fishing. These assets, scattered in 30 provinces and municipalities, except for Tibet, Hong Kong, Taiwan and Macao, were sorted out from the company's over 1 million asset portfolios, and have great potential, according to Wang. By the end of last year, the Great Wall has handled 225 asset portfolios, which was valued at 8 billion yuan. The company has retrieved 4.03 billion yuan in cash and real estate through rental, asset securities and restructuring for listing purposes. Wang said in the current stage, his company has completed listing tutorship of two debtor companies, and are preparing for their listings. |
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