Jul
03
China Postal Bank Defies Market Turmoil With $8 Billion IPO Plan
By-
Postal Savings said to file listing application last week
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UBS, Temasek among investors in postal bank ahead of IPO
Global bank shares are gyrating after the U.K. vote to leave the European Union. Hedge fund managers and analysts are sounding increasingly dire warnings about the bad debts piling up on the balance sheets of Chinese banks.
Enter Postal Savings Bank of China Co., which last week shrugged off the naysayers and filed a listing application with the Hong Kong stock exchange. The bank, China’s sixth largest in terms of assets, is seeking to raise $8 billion in what could be the world’s largest IPO this year, according to people familiar with the matter…
China Postal Bank Defies Market Turmoil With $8 Billion IPO Plan
