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Postal Savings Bank plans to price Hong Kong IPO at lower end of range: IFR

The logo for Postal Savings Bank of China Co. is displayed outside a bank branch in Shanghai, China.
Qilai Shen | Bloomberg | Getty Images
The logo for Postal Savings Bank of China Co. is displayed outside a bank branch in Shanghai, China.

Postal Savings Bank of China (PSBC) is planning to price its Hong Kong initial public offering (IPO) at the lower end of a marketing range, IFR reported on Tuesday.

Postal Savings Bank, the country's biggest lender by branch network, is planning to price the IPO in HK$4.76-$4.86 per share range, IFR, a Thomson Reuters publication, said.

The Chinese lender had launched the offer last week offering 12.1 billion shares in a range of HK$4.68-$5.18.

It is seeking to raise up to HK$63 billion ($8.1 billion), which would make it the world's biggest IPO this year.

PSBC was not available for an immediate comment.

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