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Postal Savings Bank raises $7.4 billion in the world’s largest IPO since Alibaba’s record 2014 listing thanks to heavy support from state-run cornerstone investors

1 month ago
Sky Canaves
ore than 75 percent of shares in the IPO of the Postal Savings Bank of China were sold in advance to six government-affiliated investors who agreed not to reduce their holdings for a period of six months.
By Sky Canaves
Sky Canaves previously reported for The Wall Street Journal in Beijing and Hong Kong, where she covered media, culture, social issues, and legal affairs, and served as the founding editor and lead writer of the WSJ’s China Real Time site. Prior to becoming a journalist, Sky worked in the China corporate law practice of Baker & McKenzie, and she has also taught journalism and media law at the University of Hong Kong. She speaks Mandarin and has accumulated more than a decade's experience living, studying and working in China.