China's Postal Savings Bank seeks up to US$8.1b in HK IPO
This could be world's biggest share sale this year; lender is offering 12.1b shares at HK$4.68 to HK$5.18 apiece
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Hong Kong
POSTAL Savings Bank of China Co is seeking as much as US$8.1 billion in a Hong Kong initial public offering (IPO), which could become the world's biggest share sale this year.
The Beijing-based bank is offering 12.1 billion shares at HK$4.68 to HK$5.18 apiece, according to terms for the deal obtained by Bloomberg on Tuesday. Cornerstone investors, who commit to hold their shares for six months, agreed to buy about US$5.9 billion of stock, accounting for 76 per cent of the offering at the midpoint of the marketed range.
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