Postal Savings Bank gets $7.4bn IPO over the line

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By John Loh
21 Sep 2016

Postal Savings Bank of China has raised HK$57.6bn ($7.4bn) from its Hong Kong IPO after pricing the shares off the bottom of the range, with allocations dragging late into Wednesday evening.

The lender sold 12.1bn primary shares at HK$4.76 apiece, near the floor of its original marketing range of HK$4.68-HK$5.18 and the low end of the revised price guidance of HK$4.76-HK$4.86.

The stock was still being allocated late into Wednesday evening, as its sheer size meant bankers needed ...

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