China Postal seeks $1.6 billion from Shanghai IPO

The country's biggest courier company, China Postal is aiming for a $1.6 billion IPO that could be the biggest in China so far this year.

China Postal seeks $1.6 billion from Shanghai IPO
China Postal aims to raise Rmb10 billion in Shanghai this year (AFP)

China Postal Express Logistics, a unit of China Post Group, is planning to raise Rmb9.98 billion $1.6 billion from a Shanghai initial public offering that could be the biggest in China this year.

The company will issue a maximum of 4 billion A-shares or 33% of its enlarged share capital, it said in a prospectus published on the website of the China Securities Regulatory Commission CSRC during the weekend. It didn’t give information about the...

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