AgBank has attracted subscriptions from big insurers, and other major companies for the Shanghai portion of its initial public offering. This will help ensure that the issuance won't cause disruptions to local markets.
In past weeks, AgBank's large-scale IPO has hung over the Shanghai stock market, as investors worry that an influx of additional shares could keep the overall market from reviving. But now AgBank has eased such concerns in an "online roadshow".
More than 10 billion yuan-denominated shares will be sold via a placement to strategic investors, including top insurers, agricultural firms and other major companies.