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 Port part-cashes out of PSBC via EB

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.

Unable to exit the 10 month-old investment easily by selling the shares directly due to the low turnover of PSBC's shares and the clunky size of its stake, SIPG opted to sell...

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