Shanghai Port part-cashes out of PSBC via EB

The key cornerstone investor in China’s largest bank by retail branches raised $1 billion from an exchangeable bond issue, potentially exiting nearly half of its investment.

Shanghai International Port Group has monetised nearly half of its cornerstone investment in Postal Savings Bank of China’s initial public offering through a $1 billion dual-tranche exchangeable bond issue, giving it a sniff of a chance at making a profit.

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