AgriBank Said to Raise $19.2 Billion in Hong Kong, Shanghai IPO
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Agricultural Bank of China Ltd. is raising at least $19.2 billion in what may become the world’s biggest initial public offering, according to two people with knowledge of the pricing and a company filing in Shanghai.
China’s largest lender by customers priced its Hong Kong shares at HK$3.20 apiece yesterday after the stock was offered for HK$2.88 to HK$3.48, said the two people, who declined to be identified before a public announcement is made. The Beijing- based company is selling 22.2 billion shares in Shanghai at 2.68 yuan (40 cents) each, the top of its range, it said in a statement to the city’s stock exchange.