Postal Savings $15bn IPO not safe from volatility

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By Jonathan Breen
21 Jan 2016

Postal Savings Bank of China stole the attention of the Hong Kong equity capital market this week as it kicked off preparations for a potential $15bn IPO, set to be the largest in the city in nearly five years. But fickle markets and a Hong Kong dollar stuck in a downward spiral could put the issuer on the back foot, writes Jonathan Breen.

The state-owned bank sent out a request for proposals on Monday and gave banks until Friday to pitch for the role of sponsor for its $10bn-$15bn float, an ECM banker pitching for the position told GlobalCapital Asia. The issuer is looking for two or three banks to underwrite ...

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