China’s biggest stock listing in years barely gains on debut

BEIJING: China’s largest stock debut in years did next to nothing, following signs of weakening sentiment in the world’s second largest equity market.

State-owned lender Postal Savings Bank of China Co. rose only as much as 2.7% Tuesday on its first day in Shanghai. The bank sold its shares at 5.5 yuan apiece, allowing it to raise as much as 32.7 billion yuan ($4.6 billion) if it fully exercises a greenshoe option. That would make it the largest onshore listing since Agricultural Bank of China Ltd. in 2010. The stock closed 2% higher at 5.61 yuan.