Postal Savings Bank and CR Beer prep jumbo offerings

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By Jonathan Breen
07 Jul 2016

A pair of Chinese firms are preparing potential multi-billion-dollar deals. Postal Savings Bank of China Co is seeking approval for a Hong Kong IPO that could raise up to $8bn, according to sources familiar with the matter, while China Resources Beer (Holdings) Co is aiming to net HK$9.5bn ($1.2bn) from a rights issue in the next few weeks.

China's Postal Savings Bank has filed a draft prospectus with the Hong Kong Stock Exchange, posted on the bourse’s website on Monday. It is expected to launch its IPO as soon as September and it is likely to consist of up to 13.9bn primary shares, said one source.

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