Thu, July 15, 2010
Business > Industries > Agricultural Bank of China launches IPO

ABC to raise up to 23.2 bln USD at Shanghai

2010-06-28 14:30:21 GMT2010-06-28 22:30:21 (Beijing Time)  Xinhua English

BEIJING, June 28 (Xinhua) -- Agricultural Bank of China (ABC) said late Monday it had set the price range for the Shanghai portion of its IPO at 2.52 to 2.68 yuan (0.37 to 0.39 dollars).

The Beijing-based bank would offer a total of 59.51 billion shares, according to a statement the lender filed with the Shanghai Stock Exchange.

This would enable the bank to raise up to 23.2 billion U.S. dollars, making it the world's largest listing ever.

ABC,the last of China's "big four" state-owned banks to float shares, plans a dual listing in Shanghai and Hong Kong at mid-July.

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