It's being reported the Postal Savings Bank of China is shopping a Hong Kong IPO to investment banks said to be worth up to 15 billion U.S. dollars.

Postal Savings is reportedly talking to a dozen different banks, and is said to be giving them deadline of this Friday to pitch their potential investment.

Postal Savings Bank already raised 7 billion U.S. dollars by selling a 17 percent stake to a collection of companies, including a number of international firms, as well as Tencent and Alibaba.

It's being reported Postal Savings Bank might be looking for a simultaneous Hong Kong and mainland A share listing.

Postal Savings Bank is an off-shoot of China Post.

While it is not used much in China's first and second-tiered cities, Postal Savings Bank is still widely used in China's rural areas.