Postal Savings Bank of China prices IPO at low end of expectations
Hong Kong
STATE-OWNED Postal Savings Bank of China (PSBC) priced its Hong Kong initial public offering near the bottom of expectations, valuing the deal at US$7.4 billion, IFR reported on Wednesday.
The bank, seeking to bolster its balance sheet and fund future lending growth, had originally sought to raise up to US$8.1 billion, counting on its network of more than 40,000 branches and low level of non-performing loans to attract investors.
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