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PSBC Introduces RMB45.1 Billion Strategic Investment

Date: 2015-11-09

It’s learnt from Postal Savings Bank of China (PSBC) on December 9, 2015 that introduction of strategic investors by PSBC was officially approved by China Banking Regulatory Commission. The introduction would proceed in the form of issuing new shares and the size of financing reached RMB45.1 billion, with the issue proportion standing at 16.92%. It signaled that PSBC had successfully taken a step forward from the single shareholder of China Post Group Corporation to equity diversification.

PSBC introduced ten strategic investors this time, including six world famous financial institutions, namely United Bank of Switzerland, J.P. Morgan, Development Bank of Singapore, Canada Pension Plan Investment Board, Temasek and International Finance Corporation, two large-sized state-owned enterprises, namely China Life and China Telecom, and two Internet companies, namely Ant Financial and Tencent.

It’s learnt that PSBC and the strategic investors have confirmed a package of cooperation plans that involve many fields. The two sides will finish capital delivery in the short term.

PSBC President Lv Jiajin introduced that PSBC officially launched the work of introducing strategic investors on June 9, 2014. The work lasted for over one year and went through two rounds of competitive bidding and several rounds of negotiations. “This is win-win cooperation between PSBC and the strategic investors and also a mutually beneficial and win-win demonstrative model between China and the world”, he said.

Reporter Zhao Wenjun, Xinhua News Agency

December 9, 2015