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The Agricultural Bank of China has started taking subscriptions from Chinese mainland institutions, for the Shanghai portion of its IPO.
AgBank's Shanghai A-share portion will be open to retail investors on July 6th. Agbank's Hong Kong share offering has been oversubscribed more than tenfold by institutional investors. This signals healthy interest in the dual listing, which could end up being the world's largest.
AgBank is conducting a Shanghai-Hong Kong dual listing to raise more than 20 billion U.S. dollars. It's received bids from institutional investors worth around 50 billion U.S. dollars for its Hong Kong offering. Individual investors showed muted interest in AgBank's Hong Kong IPO on Wednesday when the offering was open to them.
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