China Postal Express & Logistics Co, the nation's biggest courier company, won regulatory approval for an initial public offering that may be the largest in Shanghai for at least six months.

The China Securities Regulatory Commission has authorized the sale, according to a statement on the CSRC website on Friday. There were no details on when the offering will take place. China Postal Express aims to raise as much as 9.98 billion yuan ($1.6 billion), selling as many as 4 billion shares.

Agencies - China Daily