Sep
23
China’s Postal Savings Bank Said to Near $6.5 Billion Sale
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UBS and Temasek said to be investors in pre-IPO stage
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Postal Savings Bank said to be selling about 15 percent stake
Postal Savings Bank of China Co., which has the most outlets of any lender in the nation, is nearing an agreement to raise more than $6.5 billion from investors includingUBS Group AG and Temasek Holdings Pte ahead of a planned initial public offering, people familiar with the matter said.
UBS is seeking to invest about $2.5 billion and may syndicate a significant portion of that stock to other investors, the people said, asking not to be identified before an announcement. Singapore’s DBS Group Holdings Ltd., International Finance Corp. andAlibaba Group Holding Ltd.’s financial affiliate will also invest, the people said…
China’s Postal Savings Bank Said to Near $6.5 Billion Sale
