China Money Rates Drop After AgriBank Share Subscriptions End
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China’s benchmark money-market rate declined as demand for capital waned following a share offering by Agricultural Bank of China Ltd.
Investors’ subscriptions to yuan-denominated shares of the nation’s largest lender by customers ended yesterday. The Beijing-based bank is raising at least $19.2 billion in what may become the world’s biggest initial public offering, according to people with knowledge of the pricing for Hong Kong and Shanghai.