Tuesday, September 7, 2010   


AgBank moves closer to world IPO record

Friday, July 30, 2010

Agricultural Bank of China (1288) fully exercised the overallotment option for the H-share portion of its initial public offering, boosting it by 15 percent.

AgBank raised a total of HK$93.51 billion from its SAR listing, including the HK$12.2 billion from issuing an additional 3.81 billion shares at HK$3.20 apiece in the overallotment portion.

If the overallotment option for the A-share portion of its IPO is exercised, the lender could raise a total HK$172.04 billion. This would surpass the previous world record of HK$170.9 billion raised by the Industrial and Commercial Bank of China (1398) during its dual listing in 2006.

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Yesterday, AgBank was the most actively traded stock in the local bourse, accounting for 4.85 percent of main- board turnover and transactions worth HK$2.73 billion with 767.8 million shares changing hands.

AgBank shares closed down 0.28 percent to HK$3.57, snapping a six-day 11.56 percent rally from its offer price of HK$3.20.

MANDY LO


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