China Postal Saving Bank Taps 5 Banks for IPO
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China's Postal Saving Bank has reportedly picked five investment banks to lead its initial public offering in Hong Kong, valued up to 10 billion U.S. dollars.

They include Bank of America, Merrill-Lynch, China International Capital, Goldman Sachs, J.P. Morgan and Morgan Stanley.

The lender raised 7 billion dollars last month and sold nearly 17 percent stake to a group of investors earlier.

Postal Savings Bank of China has more than 40 thousand branches across China, mostly in smaller cities and villages.

Author： 　　　Source：CRI　　　 Editor：Yang Fan