(Yicai Global) Dec. 10 -- Postal Savings Bank of China's shares [SHA:601658] closed up 1.09 percent at CNY5.76 (USD0.82) on the morning of their first day of listing in China's largest initial public offering in nearly a decade.

After the implementation of the 'greenshoe' oversubscription option, PSB ultimately issued about 5.95 billion shares at CNY5.50 per, thereby raising around CNY33 billion (USD470 million).

PSB had CNY10 trillion (USD142 billion) in assets, CNY4.70 trillion in loans and CNY9.10 trillion in deposits in mid-year, ranking it fifth in China's banking sector.

Editor: Ben Armour