Postal Savings Bank of China seeks US$8.2b in HK IPO

Hong Kong

STATE-OWNED Postal Savings Bank of China (PSBC) plans to raise up to US$8.2 billion in a Hong Kong initial public offering (IPO) and will start taking orders from investors next week after it set a price range for the deal, IFR reported on Friday.

PSBC plans to sell 12.2 billion shares at an indicative range of HK$4.68 to HK$5.18 each, putting the total deal at up to HK$63.2 billion (US$8.15 billion or S$11 billion), added IFR, a Thomson Reuters publication, citing people close to the deal.