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The last of China's big four state-owned banks, the Agricultural Bank of China, starts accepting online subscriptions today.
Agbank has set the price range for the Shanghai portion of its IPO at 2.52 to 2.68 yuan per share. But since the price hasn't been decided, investors should subscribe the shares according to the upper limit of the price range. If the final issuing price is lower than 2.68 yuan, the price disparity will be returned to online investors.
Experts estimate the new share issues will freeze over 1 trillion yuan in capital. But its impact on the secondary market remains only at the psychological level.