China Orient to revamp ahead of eventual IPO

State-owned asset management firm likely to bring in strategic investors China Orient Asset Management Corp, one of the four largest Chinese asset management companies, has unveiled restructuring plans that could see the addition of strategic investors and an eventual listing of the company.

Wholly owned by the Ministry of Finance, China Orient has signed an agreement with the National Council for Social Security Fund to establish a joint-stock company China Orient Asset Management Co Ltd. The new company is expected to be registered formally after it gets the necessary regulatory approval, sources said.

Liang Senlin, director of restructuring operations at China Orient, said the Ministry of Finance has contributed 98 percent of the registered capital for the to-be-formed company and the National Council for Social Security Fund the other 2 percent.