Shanghai International Port (Group) is among the half dozen cornerstone investors that have bought up 77 per cent of the shares in the recent initial public offer by the Postal Savings Bank of China. Photo: AP

Borrow money for IPO? Shanghai Port pays the price with a rating cut

S&P downgrades Shanghai International Port for its debt-backed stake in Postal Bank’s IPO

Topic |   Banking & Finance

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Shanghai International Port (Group) is among the half dozen cornerstone investors that have bought up 77 per cent of the shares in the recent initial public offer by the Postal Savings Bank of China. Photo: AP
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