ABC accepts online subscriptions to IPO from individual investors

18:13, July 06, 2010      

Email | Print | Subscribe | Comments | Forum 

The Agricultural Bank of China (ABC), the country's largest rural lender, accepted online subscriptions to its initial A-share public offering from private investors Tuesday.

About 10.5 billion A-shares were available for online subscription, which ended 15:00 Tuesday (Beijing time), the bank said in a statement.

ABC will issue 22.24 billion A-shares in the IPO. If over-allotment, or greenshoe, options are fully exercised, the number of A-shares issued will reach 25.57 billion shares. The A-shares will be listed on the Shanghai stock market.

Each individual investor must apply for at least one lot (1,000 shares) but not more than 10,000 lots (10 million shares) at 2.68 yuan (0.39 U.S. dollar) per share, the upper limit of the price range set by the bank.

The bank will decide on the pricing of its A-share offering and over-allotment options Wednesday. It will announce pricing and and online subscription results Thursday.

If the final IPO price is lower than the upper limit, the price difference and the subscription funds from investors who fail to win an ABC share lot will be returned on Friday.

The offering of ABC's H-shares on Hong Kong Stock Exchange will close on Wednesday. ABC's H-share IPO scale was about 25.41 billion shares, and when the greenshoe mechanism is fully exercised, the number of shares will be about 29.22 billion.

Source: Xinhua

(Editor:黄硕)

  • Do you have anything to say?

双语词典
dictionary

  
Special Coverage
  • Premier Wen Jiabao visits Hungary, Britain, Germany
  • From drought to floods
Major headlines
Editor's Pick
  • On Sept. 28, tourists travel around the Mingshashan Scenic Area in Dunhuang, Gansu province by camel. With the National Day vacation right around the corner, more and more tourists from home and abroad are going to Dunhuang. Riding on a camel, they travel in the desert to enjoy the cities rare form of natural scenery. (Xinhua/Zhang Weixian)
  • Chinese forest armed forces work together with forest firefighters on Sept. 28. (Xinhua/Chai Liren)
  • Photo taken on Sept. 29, 2011 shows strong wind blows trees in Sanya, south China's Hainan Province. Typhoon Nesat heads towards south China and is moving at an average wind speed of 20 km per hour toward the west coast of China's Guangdong Province. (Xinhua/Hou Jiansen)
  • A fallen tree is seen on a road in Qionghai, south China's Hainan Province, Sept. 29, 2011. Typhoon Nesat was predicted to land in Hainan later Thursday, bringing heavy rainfalls to the island. (Xinhua/Meng Zhongde)
  • Arash Kamalvand (L) of Iran spikes the ball during the semifinal against South Korea at the 16th Asian Men's Volleyball Championship in Tehran, Iran, Sept. 28, 2011. Iran won 3-1 to advance to the final. (Xinhua/Ahmad Halabisaz)
  • A man visits "Thy Word Is Truth, the Bible Ministry Exhibition of the Protestant Church in China", during its opening at Mount Vernon Place United Methodist Church in Washington DC, capital of the United States, Sept. 28, 2011. Through the Bible's various Chinese versions, ancient or modern, as well as pictures, paintings, calligraphy, art works and historical documents, the exhibition was expected to give an overall understanding of how Bible was brought into China, how it was translated, published, distributed and loved. (Xinhua/Zhang Jun)
Hot Forum Discussion