HONG KONG, Nov 11 (Reuters) - State-owned Postal Savings Bank of China (PSBC) is expected to unveil soon the sale of a 15 percent stake to a group of investors for about $8 billion, ahead of a planned IPO in Hong Kong in 2016, IFR reported on Wednesday citing people familiar with the plans.
UBS AG made the single largest investment in the group with $2 billion and placed some of the shares with buyers including Hong Kong tycoons, added IFR, a Thomson Reuters publication. Other investors in the group included Singapore's Temasek Holdings, according to IFR, confirming a Reuters report from April.
JPMorgan and the International Finance Corp (IFC), a unit of the World Bank, also invested in the pre-IPO round. The initial public offering is expected to raise $15-$20 billion, IFR said. (Reporting by Fiona Lau of IFR; Writing by Elzio Barreto; Editing by Susan Fenton)