China Postal Bank seals pre-IPO fundraising

China's sixth largest bank by assets raises new equity in its next step towards an IPO that could rank as the world's largest in 2016.

Postal Savings Bank of China (PSBC), the country’s largest lender by number of branches, has raised Rmb45.1 billion ($7 billion) in its latest pre-IPO funding round, selling a 17% stake to a group of 10 investors.

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