Postal Savings Bank nearing agreement for $6.5bn sale
China's Postal Savings Bank is nearing an agreement to raise over $6.5bn from investors such as UBS, Alibaba and DBS Group, ahead of a planned initial public offering (IPO); UBS is seeking to invest about $2.5bn.﻿ The Postal Savings Bank﻿﻿﻿ is selling around a 15% stake to outside investors, as the Chinese goverment looks to bring in more market discipline to state-owned enterprises.

China’s Postal Savings Bank Said to Near $6.5 Billion Sale By Tony Seruga By

UBS and Temasek said to be investors in pre-IPO stage

Postal Savings Bank said to be selling about 15 percent stake

Postal Savings Bank of China Co., which has the most outlets of any lender in the nation, is nearing an agreement to raise more than $6.5 billion from investors includingUBS Group AG and Temasek Holdings Pte ahead of a planned initial public offering, people familiar with the matter said.

UBS is seeking to invest about $2.5 billion and may syndicate a significant portion of that stock to other investors, the people said, asking not to be identified before an announcement. Singapore’s DBS Group Holdings Ltd., International Finance Corp. andAlibaba Group Holding Ltd.’s financial affiliate will also invest, the people said…

China’s Postal Savings Bank Said to Near $6.5 Billion Sale