State-owned Postal Savings Bank of China (PSBC), the country’s largest bank by number of branches, has filed for a Hong Kong initial public offering (IPO) seeking to raise as much as $10 billion, Reuters reported. The filing of the preliminary IPO prospectus sets in motion what is expected to be the world’s biggest new listing in about two years, valuing the bank at about $50 billion, IFR said, citing sources close to the deal. The IPO, aimed at raising between $7 billion and $10 billion, could happen as early as September, it said. A PSBC spokeswoman declined to make immediate comment on the filing.
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