Chinese bank raises $7.4 bn in largest IPO since 2014
State-owned Postal Savings Bank of China (PSBC) has raised $7.4 billion in the world's biggest initial public offering (IPO) after Alibaba's $25 billion listing in 2014. However, the bank had initially sought to raise nearly $8.1 billion in the Hong Kong listing. PSBC is China's sixth-largest lender by assets and has a network of over 40,000 branches in the country.