FILE PHOTO: People walk past a sign outside a branch of Postal Savings Bank of China in downtown Beijing, China, November 12, 2015. REUTERS/Kim Kyung-Hoon
The Beijing-based lender is selling up to 5.95 billion A shares at 5.5 yuan a share, the filings with the Hong Kong and Shanghai stock exchanges said. The deal also marks the sixth H-share and A-share dual listing of China’s leading state-owned lenders, under a year-long push to globalize large mainland lenders.
By end-June, PSBC had a total 39,700 branches, 48% of which are located in rural counties and villages. It had some 9.17 trillion yuan savings on book by the end of September, accounting for 96% of the bank’s total liabilities.
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