WASHINGTON (dpa-AFX) - Postal Savings Bank of China, one of the biggest banks in China, seeks to raise about $8 billion in an initial public offering, which could be the biggest IPO of the year.
Postal Savings Bank of China plans to list its stock in the Hong Kong stock exchange.
According to reports, the Postal Savings Bank of China is the country's second largest bank in terms of retail presence with nearly 40,000 branches across the country. The bank is owned and operated by the State Post Bureau, China's official government agency.
The news was reported by Bloomberg, citing 'people familiar with the matter.'
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