China's Postal Savings gets HK nod for $8 billion IPO: IFR

August 25, 2016 11:31 AM

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China's Postal Savings gets HK nod for $8 billion IPO: IFR

HONG KONG State-owned Postal Savings Bank of China (PSBC) has secured Hong Kong stock exchange approval for its planned initial public offering (IPO) in the island city, which could raise about $8 billion, IFR reported on Thursday citing two sources familiar with the matter.

The nod from the listing committee of the Hong Kong stock exchange would allow the Beijing-based lender to start gauging investor appetite for the offer as soon as Monday.

Also read: China's economy faces overcapacity problems, financial risks rise- Xinhua

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