On 28 September 2016, Postal Savings Bank of China Co., Ltd. (PSBC) had its H shares successfully listed on the Hong Kong Stock Exchange, with King & Wood Mallesons (KWM) advising its underwriters. PSBC’s initial public offering comprised a total of 12.1 billion H shares issued globally, pricing at HK$4.76 per H share, which raised approximately US$7.4 billion (subject to the over-allotment option). As a leading retail bank with the largest distribution network and customer base in China, PSBC’s HK listing not only marks the world’s largest IPO this year, but also the world’s largest new listing since Alibaba’s US listing in 2014, and HK’s largest IPO since 2010.
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