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 price range of the proposed offering.
The securities regulator said in a separate statement that it will review the company’s IPO application on May 4.
If approved, it would...