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The Agricultural Bank of China has finalized its list of 11 cornerstone investors, for the Hong Kong portion of its IPO. If AgBank successfully raises 23 billion U.S. dollars, it will be the world's largest IPO ever with a diverse list of cornerstone investors.
The group of investors have agreed to commit 5.45 billion U.S. dollars. That's half of the 12 billion U.S. dollars the lender hopes to raise through the H-share deal. The standard cornerstone allotment is around 30 percent of an IPO.