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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

Published Wed, Dec 9, 2015 · 09:50 PM
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Shanghai

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 sale ahead of a planned initial public offering by the Chinese lende…

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