The Postal1 Savings2 Bank of China has submitted its application filing for listing to the Hong Kong Stock Exchange on July 4, 2016. 中国邮政储蓄银行已经于7月4日在香港股票交易所递交上市申请。
It is reported that the Initial Public Offering or IPO could raise as much as 63 billion HK dollars (around 8.1 billion US dollars), making it the largest in the world this year.
It has already sold a minority stake to 10 major
investors3 last year including Chinese tech firm Tencent, China Life, China Telecom, UBS, Temasek and JPMorgan Chase, raising a total amount of 45.14 billion yuan (around 6.77 billion US dollars).
The China
Banking4 Regulatory Commission approved the bank to launch the IPO in Hong Kong on June 28 and the bank will sell no more than 13.92 billion shares.
The Postal Savings Bank of China is the largest bank in China in terms of the number of branches, with over 40,000 across the country.
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