Himalaya Capital Management (Himalaya Capital) recently added to their stake in HK-listed Postal Savings Bank of China (PSBC). Based on a filing submitted to the Hong Kong Stock Exchange on January 20th, 2021, Himalaya Capital bought 83.544 m shares on the exchange at an average price of HKD 5.3479 per share on January 15th (the total consideration was ~US$57.6m). Following the purchase, the firm’s stake in PSBC increased from 6.00% to 6.42%.

The postal savings business in China can be traced back to its start in 1919. In March 2007, based on the reform of the previous postal savings management system, PSBC was officially established. In January 2012, the bank was transformed into a joint stock limited liability company. In December 2015, the bank introduced ten strategic investors from home and abroad. In September 2016, PSBC went public and was listed on the Hong Kong Stock Exchange. In December 2019, PSBC was listed on the Shanghai Stock Exchange, successfully accomplishing its three-step reform, namely “joint stock reform, introduction of strategic investors and initial public offerings of the A share and H share.” PSBC has approximately 40,000 outlets and services covering over 600m individual customers.

Himalaya Capital was founded by Li Lu in late 1997. The firm is based in Seattle, Washington.