China Postal Savings Bank $8.1b IPO mostly covered by cornerstone investors

China Postal Savings Bank $8.1b IPO mostly covered by cornerstone investors

People walk past a sign outside a branch of Postal Savings Bank of China (PSBC) in downtown Beijing, China, November 12, 2015. REUTERS/Kim Kyung-Hoon/File Photo

State-owned Postal Savings Bank of China (PSBC) on Tuesday launched an initial public offering in Hong Kong worth up to $8.1 billion, with the vast majority of the deal covered by cornerstone investors.

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