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ABC makes a weak HK debut

07-16-2010 13:48 BJT

Agricultural Bank of China made its debut in Hong Kong, one day after its listing in Shanghai.

Shares of the lender opened slightly higher at 3.25 Hong Kong dollars, compared with its IPO price of 3.2 dollars. Agbank's Shanghai IPO also opened with a lackluster start, ending the first day with a 0.8 percent rise. The bank sold 25.4 billion shares, and says its shares offered under the Hong Kong public offering had been 4.87 times oversubscribed.

If the lender exercises its full over-allotment for both the Shanghai and Hong Kong offerings, it will raise 150 billion yuan in the world's largest ever IPO. AgBank's dual listing is intended to replenish its capital base after a lending spree last year.

Editor:Xiong Qu |Source:

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