CCTV.com - CNTV English - CCTV News


Homepage > News > Biz >

ABC set to stage world's largest listing

06-29-2010 11:36 BJT

BEIJING, June 28 (Xinhua) -- Agricultural Bank of China (ABC) is set to raise up to 23.2 billion U.S. dollars in the world's largest listing, according to the price range the lender set for its shares.

ABC said late Monday in a statement filed with the Shanghai Stock Exchange that it had set the price range for the Shanghai portion of its initial public offering (IPO) at 2.52 to 2.68 yuan (0.37 to 0.39 dollars).

The lender last week priced shares in the Hong Kong part of its IPO at 2.88 to 3.48 HK dollars (0.37 to 0.45 U.S. dollars).

ABC said it would offer 22.23 billion A-shares in Shanghai and 25.41 billion H-shares in Hong Kong, excluding an over-allotment option, in the preliminary prospectus it submitted to the China Securities Regulatory Commission (CSRC).

The pricing of the shares means ABC, the last of China's "big four" state-owned banks to float shares, would be able to raise up to 23.2 billion U.S. dollars, set to beat a record 21.9 billion U.S. dollars raised by Industrial & Commercial Bank of China in 2006.

The CSRC earlier this month approved ABC's IPO application for dual listing in Shanghai and Hong Kong, which is scheduled at mid-July.

Editor:Xiong Qu |Source: Xinhua

Hot Videos view more

The celebrations are still continuing as the victorious coach, Joachim Loew, has been honored for his achievement in his hometown of Freiburg.
Germany coach Loew honored in hometown of Freiburg

Chinese men´s national team continued its preparations for next year´s Asian Cup, as they managed a one-all draw against visitors Jordan during a football friendly in Harbin, the capital city of Northeast China´s Heilongjiang Province.
China held to 1-1 draw by Jordan

The defending world champs came into the contest with a perfect 6-and-oh record, but they would be in for a tough first half before opening things up in the second.
USA beat Slovenia 119-76 in quarter-finals

Hot Stories more

UK authorities believe killer of James Foley is a British national

Across the UK the hunt is on for James Foley’s killer, who authorities believe is a British national. As Richard Bestic reports from London, Prime Minister David Cameron cut short his summer break to lead his government’s response.

Israeli war jets renews Gaza strike as truce talks stalled

Three Palestinians were killed and 40 others wounded in the intensive Israeli war jets´ airstrikes on the Gaza city on Tuesday night, shortly before an end of a 24-hour ceasefire in the Gaza Strip,

Missouri police arrest dozens after violent night

As the protests in the town of Ferguson, Missouri turned violent with police facing ´heavy gunfire´ from some ´criminal elements´, cops fired tear gas, stun grenades and arrested 31 demonstrators on Monday night.

Picture in news more

More Video News

Choose TV Program