AgBank of China Plans to Raise $12.8 Billion in Capital
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Agricultural Bank of China Ltd. is seeking 80 billion yuan ($12.8 billion) in the nation’s biggest sale of preferred stock since the government began allowing companies to issue the securities two months ago.
Its board approved a plan to sell as many as 800 million preferred shares through private transactions on the mainland, the Beijing-based lender, the nation’s third biggest by market value, said in a Hong Kong stock exchange statement yesterday.