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AgBank greenshoe brings $22b IPO record: sources
Agricultural Bank of China's (AgBank) initial public offering hit a record $22.1 billion on Friday, after it exercised an over-allotment option in full, two banking sources said. Special coverage
ABC in full exercise of over-allotment option
China's Agricultural Bank announced Thursday the over-allotment option for its global offering has been exercised in full by the joint bookrunners on behalf of the international underwriters on the day.
| May 4, 2010 | ABC presents its listing request to stock exchanges in Shanghai and Hong Kong. |
| April 14, 2010 ABC decides on nine investment banks to help with its dual listing in Shanghai and Hong Kong. | |
| April 7, 2010 ABC launches its IPO program, and 21 underwriters report their proposals to ABC. | |
| Feb 2, 2009 Premier Wen says the government will invest 200 billion yuan in ABC to support its asset restructuring, which is needed for listing. | |
| Jan 16, 2009 The Agricultural Bank of China Ltd is incorporated in Beijing, with a registered capital of 260 billion yuan. | |
| Nov 6, 2008 The Central Huijin Corp invests dollars worth 130 billion yuan for a 50 percent stake in the bank. | |
| Oct 22, 2008 The State Council, China's Cabinet, approves ABC's restructuring and incorporation plans. | |
| January 2007 The National Financial Work Conference decides that ABC will float its shares at the appropriate time. | |
| 2004 ABC presents its first proposal on ownership restructuring. | 1999 ABC and three other major State-owned banks spin off 1.4 trillion-yuan non-performing assets. |
| Bank | Major Shareholders | Listing Date |
Issue Price |
Stock Code |
| Industrial and Commercial Bank of China
Central Huijin Investment Ltd Ministry of Finance of PRC HK Securities Clearing Company Nominees Limited The Goldman Sachs Group, Inc National Council for Social Security Fund A share: Oct 27, 2006 H share: Oct 27, 2006 3.12 yuan HK$3.07 601398 1398 |
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| Bank of China
Central Huijin Investment Ltd Hong Kong Securities Clearing Company Nominees Limited RBS China Investments S. à .r.l. Fullerton Financial Holdings Pte Ltd National Council for Social Security Fund A share:July 5, 2006 H share: June 1, 20063.08 yuan HK$2.95 601988 3988 |
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| China Construction Bank
Central Huijin Investment Ltd Bank of America Corporation HK Securities Clearing Company Nominees Limited China Jianyin Investment Limited Fullerton Financial Holdings Pte Ltd A share: Sept 25, 2007 H share: Oct 27, 2005 6.45 yuan HK$2.35601939 0939 |
Bank of Communications |
Ministry of Finance of PRC HK Securities Clearing Company Nominees Limited The Hongkong and Shanghai Banking Corporation Limited Capital Airports Holding Company State Grid Asset Management Company Limited |
A share: May 15, 2007 H share: June 23,2005 |
7.90 yuan HK$2.50 601328 3328 |
About ABC
Agricultural Bank of China is the nation's third-largest lender by assets. With the largest network across China, the ABC is able to provide financial services to over 350 million clients.
Management Team
Chairman Xiang Junbo
Once the vice governor of China's central bank, Xiang was appointed governor of ABC in June 2007, and became chairman of ABC in January 2009.
Governor Zhang Yun
Zhang, PhD in economics, was appointed as vice chairman and governor of the bank in 2009.
Vice Governor Pan Gongsheng
Pan was in charge of Industrial and Commercial Bank of China's listings in Shanghai and Hong Kong. He was appointed vice governor of ABC in May 2008.
Other Banks
CCB wins investor approval for rights offer
China Construction Bank Corp, the world's second-largest lender by market value, won shareholder approval for a plan to raise as much as 75 billion yuan ($11 billion) in a rights offer.