Deals
China’s Postal Savings Bank Said to File for $8 Billion IPO
- Bank pushes ahead with share sale amid turbulent markets
- Biggest Chinese bank by branches aims to list in September
China's Postal Bank May File for IPO
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Postal Savings Bank of China Co. filed a listing application with the Hong Kong stock exchange, people with knowledge of the matter said, as it prepares for an $8 billion initial public offering that could be the world’s biggest this year.
The bank, which has the most branches of any Chinese lender, aims to list as early as September, two people said Thursday, asking not to be identified as the information is private. An $8 billion IPO would be the largest since e-commerce billionaire Jack Ma’s Alibaba Group Holding Ltd. priced its $25 billion New York share sale in September 2014, according to data compiled by Bloomberg.