AgBank confirms underwriters for A-share, H-share IPOs
Friday, 16 April 2010
SHANGHAI, Apr 15 (Reuters): Agricultural Bank of China (AgBank) said it has selected underwriters for its planned share offering in Hong Kong and Shanghai, marking a key step toward what could be the world's biggest ever IPO.
China's fourth-largest bank said it had picked Goldman Sachs, Morgan Stanley, JPMorgan, China International Capital Corp (CICC), Deutsche Bank and Macquarie to handle the Hong Kong portion of its planned initial public offering (IPO), confirming what sources familiar with the situation told the news agency Wednesday.
AgBank also said that CICC, Citic Securities, Galaxy Securities and Guotai Junan Securities will handle the Shanghai A-share portion of the offering.
AgBank's planned IPO, which is expected to raise more than $20 billion in Hong Kong and Shanghai, may surpass Industrial and Commercial Bank of China's (ICBC) 2006 offering to become the largest ever in the world.
China's fourth-largest bank said it had picked Goldman Sachs, Morgan Stanley, JPMorgan, China International Capital Corp (CICC), Deutsche Bank and Macquarie to handle the Hong Kong portion of its planned initial public offering (IPO), confirming what sources familiar with the situation told the news agency Wednesday.
AgBank also said that CICC, Citic Securities, Galaxy Securities and Guotai Junan Securities will handle the Shanghai A-share portion of the offering.
AgBank's planned IPO, which is expected to raise more than $20 billion in Hong Kong and Shanghai, may surpass Industrial and Commercial Bank of China's (ICBC) 2006 offering to become the largest ever in the world.