China-based financial asset manager China Huarong Asset Management has signed an agreement with a consortium of investors, including private equity firm Warburg Pincus, to issue new shares amounting to a total of RMB14.5 billion (approximately US$2.4 billion), representing a 21 percent stake. China Huarong intends to make a public offering of its shares. In addition to Warburg Pincus, the consortium includes China Life Insurance (Group), CITIC Securities International, Khazanah Nasional Berhad, China International Capital Corporation, China National Cereals, Oils and Foodstuffs Corporation (COFCO), Fosun International and Goldman Sachs.