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Postal Bank Wins Nod for What Could Be Year’s Biggest China IPO

  • Bank may raise over $3.3 billion from Shanghai offering
  • China banks are boosting capital at record pace to fund growth
A cyclist rides past a Postal Savings Bank of China branch in Shanghai.
A cyclist rides past a Postal Savings Bank of China branch in Shanghai.

Photographer: Qilai Shen/Bloomberg

Postal Savings Bank of China Ltd., one of the nation’s largest state-owned lenders, won regulatory approval for an initial public offering that could raise more than $3.3 billion in the mainland.

The China Securities Regulatory Commission approved the sale on Thursday, according to a statement. Beijing-based Postal Bank, which is already listed in Hong Kong, plans to sell as many as 5.17 billion shares on the Shanghai stock exchange, according to its listing prospectus.