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.
An Agricultural Bank branch in Inner Mongolia
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 been drawn up for the pitches, which will also start today.

The deal has been talked about for at least three years and the process was generally expected to kick off in the second quarter,...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222