State-owned Postal¹ Savings² Bank of China has reportedly filed for an initial public offering in Hong Kong, seeking to raise up to 10 billion US dollars.

 

据报道，国企中国邮政储蓄银行申请在香港首次公开募股，计划筹资100亿美元。

 

Sources close to the deal say the bank is valued at about 50 billion US dollars, which makes it likely for the deal to become the world's biggest new listing in about two years, second only to Alibaba's IPO in 2014.

 

It's also been reported that the IPO could come as early as September.

 

The bank itself though is refusing to say anything to the public at this point.

 

Postal Savings Bank of China is the largest bank in China in terms of the number of branches.

 

It was set up in 2007 and is seen to have a lower ratio of bad loans than its rivals.

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