It has come as no great surprise to the market that Postal Savings Bank of China has delayed its initial public offering on the Shanghai Stock Exchange for the second time to launch on November 28.
China's largest lender by number of branches issued a notice on Wednesday night saying that its PE ratio after IPO will be higher than the monthly average of other listed banks. It will reach 8.93 times compared to 6 times from other state-owned banks. In order to avoid a price drop immediately after IPO, PSBC decided to delay the launch until the end of this month.
The tremendous size of...
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