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China's Postal Bank sells stake for 45b yuan

Sale ahead of a planned IPO draws 10 firms including UBS Group, the Canada Pension Plan Investment Board and Temasek Holdings

Postal Savings Bank is raising capital at a time when Chinese lenders are feeling the squeeze of shrinking profit margins and rising defaults in a slowing economy.


POSTAL Savings Bank of China Co, which has the most branches of any Chinese lender, raised 45 billion yuan (S$9.8 billion) selling about 17 per cent of itself in what it called the biggest private fundraising ever undertaken in the nation's financial industry.

The stake...

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