Li Ka Shing Foundation disclosed to share in total a 2.8 percent interests of Chinese state-run lender Postal Savings Bank (PSBC), who launched this year’s biggest initial public offerings of US$7.4 billion last month.

Owned by Hong Kong’s richest billionaire Li Ka-shing, the charitable foundation stated to hold 11.62 percent of PSBC’s shares in local market, under performance linked notes issued by a financial institution.

PSBC, the biggest bank by the number of branches in Mainland, priced its IPO near the low end of indicated range. Li deemed the holding as “long-term investment” on a press briefing.

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