Postal Savings Bank of China plans US$25b IPO: report
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Shanghai
POSTAL Savings Bank of China plans to raise up to US$25 billion with an initial public offering in 2016, the latest of China's large banks to seek funds via the equity markets, according to a source-based report in the official China Daily newspaper.
By the end of June, China's seventh-largest bank intends to introduce strategic investors who will invest US$6 billion before the IPO in exchange for 15 per cent of the bank's equity, in a bid to improve corporate governance, according to the paper.
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