Freshfields Bruckhaus Deringer and Kirkland & Ellis are advising state-owned Huarong Asset Management Co. Ltd. on a planned $2.3 billion initial public offering in Hong Kong.
Huarong is the second of the four Chinese “bad banks” to go public. In December 2013, China Cinda Asset Management Co. was the first one to list in Hong Kong after a $2.5 billion IPO. (Davis Polk & Wardwell advised Cinda.)
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