Agricultural Bank of China sets A-share IPO price at 2.68 yuan

08:05, July 08, 2010      

Email | Print | Subscribe | Comments | Forum 

Agricultural Bank of China (ABC), the last of the country's largest four banks to go public, announced Wednesday that it has set its A-share initial public offering (IPO) price at 2.68 yuan per share, hitting the high end of its IPO price range.

The pricing of the shares means the bank could raise up to 10.12 billion U.S. dollars via the Shanghai portion of the IPO, as a greenshoe option has been exercised to expand the deal by 15 percent to 25.57 billion shares, ABC said in a statement filed with the Shanghai Stock Exchange.

ABC plans a dual listing in Shanghai and Hong Kong in mid-July to replenish its capital base after a lending spree last year.

It has yet to set the final IPO price for its Hong Kong portion, where it plans to sell 25.41 billion shares, excluding an over-allotment option.

ABC set the price range for the Hong Kong portion at 2.88 to 3.48 HK dollars in late June.



  • Do you have anything to say?


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