Postal Savings Bank of China sets price range for US$8.1bn IPO

September 8, 2016 4:09 PM

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HONG KONG, Sept 8 (IFR) - Postal Savings Bank of China has set a target of HK$57bn-$63bn (US$7.3bn-$8.1bn) from its Hong Kong IPO after lining up five cornerstone investors to buy most of the shares, according to sources close to the plans.

The Chinese lender is looking to sell about 12.2bn H-shares at an indicative price range of HK$4.68-$5.18, the sources said. The range represents a 2016 P/B of 0.94-1.02, according to one of the sources.

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