Haiwen & Partners has represented Postal Savings Bank of China’s (PSBC) $4.67 billion IPO in Shanghai, with King & Wood and Mallesons advising the joint sponsors.

Set up in 2007, PSBC built its business on a massive client base in China’s rural areas thanks to its parent state-owned China Post Group, which operates postal services.

The Haiwen team was led by partners Jiping Zhang, Lei Wang and Ning Du, while the KWM team was led by partners Ling Wang, Ning Zou and Sijia Liu.

China International Capital Corporation (CICC), Postal Securities, CITIC Securities and UBS are co-sponsors of the float.