Postal Savings Bank of China to raise up to $4.67 billion in Shanghai listing

Postal Savings Bank of China (PSBC), which has the largest network of branches in the country, is hoping to raise up to RMB 32.71 billion ($4.67 billion) through an initial public offering (IPO) in Shanghai in the largest mainland IPO in four years, stock exchange filings showed on Wednesday, reported Reuters.

The Beijing-based lender is selling up to 5.95 billion A shares at RMB 5.5 a share, the filings with the Hong Kong and Shanghai stock exchanges said.

The deal, pending the go-ahead from regulators, would be the largest IPO in China since 2015, Dealogic data showed.