Haiwen, King & Wood Mallesons Advise on Postal Savings Bank of China's $4.7B Shanghai IPO
The two firms were also on the state-run bank's $7.4 billion Hong Kong IPO in 2016.
November 06, 2019 at 11:22 AM
2 minute read
Leading Chinese firm Haiwen & Partners and King & Wood Mallesons are advising on Postal Savings Bank of China Co. Ltd.'s Shanghai listing, which could be the largest listing in China in four years.
The Hong Kong-listed state-run bank, also known as PSBC, is seeking to raise up to $4.7 billion in a secondary listing on the Shanghai Stock Exchange. The deal, which is subject to approval from Chinese financial regulators, would be the largest listing in China since Chinese brokerage Guotai Junan Securities Co.'s $4.9 billion initial public offering (IPO) in 2015, according to financial data provider Dealogic. Haiwen also advised Guotai Junan on its IPO.
PSBC's Hong Kong listing in 2016, which raised $7.4 billion, was the biggest globally since Chinese e-commerce giant Alibaba Group Holding Ltd.'s still-record $25 billion IPO in 2014.
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