PSBC listed on Hong Kong Stock Exchange

PSBC listed on Hong Kong Stock Exchange

The Postal Savings Bank of China (PSBC) was listed on the Hong Kong Exchange this week. PSBC President Li Guohua and Governor Lv Jiajin struck the bronze gong at the Hong Kong Exchange on Wednesday (30 September), marking the biggest initial public offering (IPO ) on the global capital markets this year.

In a statement issued today (30 September), China Post said: “On September 27, PSBC announced the results from global sales of its H shares, some 12,106,588,000 in the IPO, set at 4.76 Hong Kong dollars (US$0.61) per share. A total of 56.6 billion Hong Kong dollars (US$7.3 billion) was raised. The total market value of PSBC rose to 384.1 billion Hong Kong dollars (US$49.5 billion).

“Following the largest private equity financing in China last year, which totaled 45.1 billion yuan (US$5.8 billion), PSBC once again created a new fundraising record in the world banking industry.”

PSBC’s Li commented: “Being listed on the stock market in Hong Kong is an important step in reform and internationalization for PSBC.

“It shows that majority of investors highly recognize PSBC’s intrinsic value. We will adhere to strategic positioning, improve our service level and strive to build a quoted company with unique competitiveness.”

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