Related News
Savings bank nets US$7b in stake sale
Print Edition
THE Postal Savings Bank of China said yesterday that it raised 45.1 billion yuan (US$7 billion) selling a stake to 10 investors, including JPMorgan Chase & Co.
The bank sold around 17 percent of its stake to be “the largest private placement in a Chinese financial institution,” the lender said in a statement.
The bank plans to work with investors to help develop other segments such as wealth management and micro-finance.
UBS Group AG, Canada Pension Plan Investment Board and the World Bank’s private investment arm, International Finance Corp, were among investors that bought into the stake. China Life Insurance Co, Tencent Holdings Ltd, China Telecommunications Corp and Alibaba Group Holding Ltd’s finance affiliate, Zhejiang Ant Small & Micro Financial Services Group Co, were also investors.
JPMorgan said in a separate note that it “will provide support and expertise to PSBC as it invests in and introduce new distribution capabilities while further strengthening its risk-management processes.”
Singapore’s DBS Bank said it will invest 1.55 billion yuan in the savings bank as part of its China strategy.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔＄粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
