Agricultural Bank of China ready to pick banks for IPO

More than 20 banks will meet with Agricultural Bank today in the hope of securing a role on the H-share portion of the offering. Including the A-share tranche, the bank wants to raise more than $20 billion, sources say.

Agricultural Bank of China ready to pick banks for IPO
An Agricultural Bank branch in Inner Mongolia

It turned into a busy Easter for equity capital markets bankers in Asia as Agricultural Bank of China suddenly set the ball rolling for its upcoming initial public offering, which will include both Chinese-listed A-shares and Hong Kong-listed H-shares. Late on Friday the Chinese lender sent out a 35-page request for proposals RFP, and asked banks that are interested in a role on its IPO to send them back by today. And, according to sources, a schedule has already...

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