Postal Savings Bank of China PSBC, the country’s largest lender by number of branches, has raised Rmb45.1 billion $7 billion in its latest pre-IPO funding round, selling a 17% stake to a group of 10 investors.
The stake sale represents the largest private fundraising by a Chinese institution to date and comes ahead of an initial public offering in Hong Kong that could raise around $15 billion and materialise as early as next year.
A number of the bank’s new shareholders will also no doubt be hoping their investment positions them to gain one of the coveted slots as joint global co-ordinators in what could...
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