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ABC breaks IPO records by raising more than 22 bln USD

07-07-2010 11:39 BJT Special Report:

Agricultural Bank of China has priced its Hong Kong and Shanghai dual listing. The deal is set to break all IPO records by raising more than 22 billion U.S. dollars, when adding in over-allotment shares.

A source involved in the deal says AgBank sold 25 billion shares in Hong Kong at 3.20 Hong Kong dollars each, with a range of 3.18 to 3.38 Hong Kong dollars. The source also says the lender priced its Shanghai IPO at the top of an indicated range. That means AgBank will sell 22 billion yuan-denominated A-shares at 2.68 yuan apiece, after indicating a 2.52 to 2.68 yuan range. The official announcement of pricing will be made today (Wednesday).

Editor:Xiong Qu |Source:

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