Agricultural Bank raises $19.2 billion from IPO

The offering could still become the largest IPO in the world if the overallotment options are exercised in full.

Agricultural Bank of China ABC will raise at least $19.2 billion from its initial public offering after fixing the price on the H-share tranche just above the mid-point of the indicated range. The A-share tranche was priced at the top of the range, but at a discount of about 4.4% versus the H-share offering.

There is still the potential for the combined A- and H-share offering to become the biggest IPO in the world, if the 15% overallotment option also referred to as a greenshoe on both tranches is exercised in full. That would bring the total deal size to about $22.1 billion, just above Industrial and Commercial Bank of China's $21.9 billion IPO in...

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