Troubled Rongsheng talks funds with Citic

People familiar with the matter told the South China Morning Post that Zhang Zhirong, whose family tightly controls Hong Kong-listed Rongsheng, planned to issue new shares in a private placement to one or a group of new investors to raise US$200 million to strengthen the company's financial position.

via Business feed http://www.scmp.com/business/companies/article/1158564/troubled-rongsheng-talks-funds-citic