China AgBank narrows range for Shanghai IPO

HONG KONG, June 29 (Reuters): Agricultural Bank of China (AgBank) is likely to set a lower price for its Shanghai initial public offering (IPO) than it set for the Hong Kong portion of the IPO, according to sources, reflecting weaker demand among Chinese investors.
AgBank will sell shares in Shanghai at 2.52 yuan to 2.68 yuan ($0.37-$0.39) apiece, two sources with direct knowledge of the matter told newsmen.