Bank of China Ltd (3988.HK)
29 Sep 2016
Sept 26 The China Banking Regulatory Commission said in an online post:
HONG KONG State-owned Postal Savings Bank of China (PSBC) raised $7.4 billion in the world's biggest initial public offering in two years, but the deal priced at the lower end of expectations and was heavily reliant on cornerstone investors.
* "lu zhengfei serves as chairman of personnel and remuneration committee"
* $7.4 bln IPO world's biggest since Alibaba deal in 2014 (Recasts and adds cornerstone investor tranche)
BEIJING, Sept 21 China's central bank said it has authorised Bank of China's New York branch to be a renminbi clearing bank in the United States.
HONG KONG, Sept 20 Hong Kong's securities regulator said on Tuesday it had issued a "restriction notice" to brokerage BOCI Securities prohibiting it from processing shares or money held in two client accounts that hold the proceeds of suspected insider dealing.
HONG KONG State-owned Postal Savings Bank of China (PSBC) is set to price its Hong Kong initial public offering near the bottom of expectations on tepid demand - although at around $7.6 billion, the deal is still set to be the world's largest in two years.
* PSBC's marketed valuation was far above Hong Kong-listed rivals (Recasts and writes through with valuations, market comment)
* PSBC's indicative range equivalent to 0.94-1.02 P/B for 2016 (Adds cornerstone investors, PSBC valuation, company comment)