PSBC makes tepid debut on HK bourse

Hong Kong

POSTAL Savings Bank of China (PSBC) made a low-key debut on the Hong Kong bourse on Wednesday, despite notching up the world's biggest initial public offering (IPO) in two years aimed at expanding the business.

China's fifth biggest lender raked in a colossal US$7.4 billion in the flotation, with a report in the Chinese language financial news portal Caixin saying that a fund linked to investment guru George Soros was among the initial investors.

But the firm's first day of trading saw it post a tepid rise in the morning session with analysts saying that the muted response was expected, due …