The subsidiary conducts securities brokerage, securities underwriting and sponsorship, and proprietary securities trading.

China Cinda Asset Management Co intends to spin off and list its brokerage unit separately on the Hong Kong Stock Exchange.

The subsidiary, Cinda Securities Co, conducts securities brokerage, securities underwriting and sponsorship, and proprietary securities trading, China Cinda, an asset-management firm specialising in restructuring soured debts, said in a statement yesterday. 

The company, which has submitted an application to start the unit's pre-listing processes to Chinese regulators, added that the proposed deal is subject to market conditions and relevant approvals.