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MarketScreener Homepage  >  Equities  >  Stock Exchange of Hong Kong  >  Postal Savings Bank of China Co., Ltd.    1658   CNE1000029W3

POSTAL SAVINGS BANK OF CHINA CO., LTD.

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Postal Savings Bank of China Shares Tick Up in Shanghai Debut

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12/09/2019 | 09:15pm EST

By Martin Mou

Postal Savings Bank of China Co. (601658.SH) opened 1.8% higher in its Shanghai debut on Tuesday, marking the biggest stock listing in nearly five years.

Shares began trading at 5.60 yuan ($0.80) compared with the initial IPO price of CNY5.50. Shares are currently at CNY5.61.

The bank, which is also listed in Hong Kong, raised CNY28.0 billion ($3.97 billion) in net proceeds. Postal Savings Bank also has an overallotment option, which if exercised, could see total fund raising touch CNY32.21 billion.

This would overtake Guotai Junan Securities CNY30.0 billion offering in June 2015, according to Dealogic.

Postal Savings Bank plans to use the IPO proceeds to boost its capital.

The bank is the latest Hong Kong-listed Chinese bank, after China Zheshang Bank Co last month and Chongqing Rural Commercial Bank Co in October, to return to China's onshore market for secondary listings, to boost their capital buffers as the country's economy slows.

Write to Martin Mou at martin.mou@wsj.com

Stocks mentioned in the article
ChangeLast1st jan.
BANK OF CHINA LIMITED 0.00% 3.3 End-of-day quote.-1.20%
CHINA ZHESHANG BANK CO., LTD 0.49% 4.1 End-of-day quote.-0.24%
CHONGQING RURAL COMMERCIAL BANK CO., LTD. 1.00% 4.04 End-of-day quote.1.25%
GUOTAI JUNAN SECURITIES CO., LTD 1.88% 19 End-of-day quote.0.87%
POSTAL SAVINGS BANK OF CHINA CO., LTD. 0.00%End-of-day quote.0.00%
UNITED STATES DOLLAR (B) / CHINESE YUAN IN HONG KONG (USD/CNH) 0.07% 6.8723 Delayed Quote.-1.37%
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Latest news on POSTAL SAVINGS BANK OF CHI
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More news
Financials (CNY)
Sales 2019 279 B
EBIT 2019 121 B
Net income 2019 59 957 M
Debt 2019 -
Yield 2019 4,47%
P/E ratio 2019 6,61x
P/E ratio 2020 6,01x
Capi. / Sales2019 1,70x
Capi. / Sales2020 1,59x
Capitalization 474 B
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 17
Average target price 5,35  CNY
Last Close Price 4,69  CNY
Spread / Highest target 52,1%
Spread / Average Target 14,0%
Spread / Lowest Target -10,5%
EPS Revisions
Managers
NameTitle
Xue Wen Zhang General Manager & Executive Director
Yue Jun Chen Chairman-Supervisory Board
Jin Liang Zhang Chairman
Hong Yao Executive Director & Vice President
Ting Mei Fu Independent Non-Executive Director