- CNTV English - CCTV News

Homepage > News > Biz >

ABC announces full exercise of over-allotment option

07-29-2010 16:19 BJT

China's Agricultural Bank (ABC) announced Thursday the over-allotment option for its global offering has been exercised in full by the joint bookrunners on behalf of the international underwriters on the day.

The move will bring about 11.96 billion HK dollars (about 1.54 billion U.S. dollars) for the company, according to a statement released by ABC via the Hong Kong Stock Exchange.

The statement says the bank will issue a total of 3,811,764,000 H shares, represents approximately 15 percent of the Offer Shares initially available under its global offering, at 3.2 HK dollars per share.

Meanwhile, the state-owned shareholders of the company are required to transfer to the Social Security Fund (SSF), in proportion to their respective shareholdings in the company, in aggregate equivalent to 10 percent of the number of the H shares issued under the over-allotment option, or pay the equivalent cash at the offer price to the SSF.

The A shares transferred to the SSF from the state-owned shareholders will be converted into H shares on a one-to-one basis.

The bank has already got approval from the Hong Kong Stock Exchange to list and trade the over-allotment shares on Aug. 5, 2010.

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