Customers at the China Postal Savings Bank's ATMs in Beijing on 3 February 2007. Photo: AFP

China’s biggest IPO in four years faces a woeful start ahead of debut as a record number of investors decline their allotments

  • Traders backtracked on 119 million shares of Postal Savings Bank worth a combined 653 million yuan, or 2.3 per cent of its secondary issuance on the Shanghai Stock Exchange
  • The snub casts a pall over what should have been a high point for the bigger of China’s two stock markets
Topic |   IPO

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Customers at the China Postal Savings Bank's ATMs in Beijing on 3 February 2007. Photo: AFP
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Pedestrians walk past a branch of Postal Saving Bank of China in Huaibei city, in China’s Anhui province. Photo: Imaginechina

Postal Saving Bank’s IPO, China’s largest since 2015, faces huge pressure as investor exuberance fades

  • One of China’s largest state-owned lenders is looking to raise around 28.4 billion yuan (US$4 billion)
  • It could potentially be the world’s fourth-largest listing this year behind Alibaba, Uber and Budweiser Brewing
Topic |   IPO

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Pedestrians walk past a branch of Postal Saving Bank of China in Huaibei city, in China’s Anhui province. Photo: Imaginechina
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