Tue, 29 April
13.1 C
Yerevan
USD: 389.46 RUB: 4.73 EUR: 441.92 GEL: 141.70 GBP: 519.38
spot_img

China’s Postal Savings Bank Said to Plan $4 Billion IPO: Bloomberg

YEREVAN, June 26. /ARKA/. Postal Savings Bank of China Co., the lending arm of state-owned China Post Group Co., plans to seek more than $4 billion in an initial public offering in Hong Kong and Shanghai, people with knowledge of the matter said.

The Beijing-based bank will seek to list as soon as next year, said the people, who asked not to be identified because the information is private. Postal Savings Bank plans to select investment banks for the IPO in the second half, they said.

The lender is attempting the biggest Chinese banking IPO in more than four years, according to data compiled by Bloomberg. Agricultural Bank of China Ltd. raised $22 billion in Hong Kong and Shanghai in July 2010, the data show.

Postal Savings Bank had about 39,000 outlets across China and 5.42 trillion yuan ($870 billion) of total assets at the end of September, according to its website. It posted a profit of 28.4 billion yuan in 2012, the website shows.

The lender’s press office in Beijing didn’t respond to an e-mail seeking comment. –0–

spot_img

POPULAR

Euro exchange rate down 1 point, while US dollar and ruble up

The average market exchange rate of the U.S. dollar to the Armenian dram on April 25, 2025, rose by 0.77 points compared to April 23 and amounted to AMD 390.33.

Armenia may access $25 mln from the IMF under the SBA agreement in June

An International Monetary Fund (IMF) team led by Iva Petrova visited Yerevan from March 31 to April 10, 2025, to conduct discussions for the fifth review under the Stand-By Arrangement (SBA) with Armenia.

Insurance market of Armenia is in embryonic state

Insurance market of Armenia is in embryonic state

In Armenia, remittances have begun to recover after a 35% decline in 2024

On the demand side, average real wages in Armenia have increased in 2025, and net money transfers have shown an upward trend, contributing to consumption growth, according to the World Bank's Armenia Monthly Economic Update – April 2025.

Instruments for supporting SMEs in Armenia were discussed with bankers at the Ministry of Economy

Financial instruments for supporting small and medium-sized businesses (SMEs) were discussed by Deputy Minister of Economy of Armenia Lilia Sirakanyan and bank representatives.

LATEST NEWS

spot_imgspot_imgspot_img