Davis Polk and Haiwen & Partners are representing China’s Postal Savings Bank on its planned $10 billion initial public offering in Hong Kong, with Clifford Chance and King & Wood Mallesons advising the joint sponsors.

This is expected to be the world's biggest new listing in about two years, valuing the bank at about $50 billion, according to IFR. The IPO, aimed at raising between $7 billion and $10 billion, could happen as early as September.

A Davis Polk team led by partner Howard Zhang is advising Postal Savings Bank with Haiwen & Partners’ Wang Lei serving as Chinese counsel. 

Clifford Chance Beijing partner Tim Wang and Hong Kong partners Amy Lo and Fang Liu are representing the joint sponsors of the IPO, including Bank of America Merrill Lynch, China International Capital Corp, Goldman Sachs, JPMorgan, UBS and Morgan Stanley. King & Wood Mallesons is serving as Chinese counsel to the banks.