Agricultural Bank ofChina still targets world's largest IPO

摘要

Agricultural Bank of China's initial public offering (IPO) - which the bank hopes will be the world's largest - has raised $19.3bn so far from investors from its listings in Hong Kong and Shanghai. If the bank exercises its overallotment options, this would take it over the $22bn mark, just above fellow Chinese bank ICBC's listing in 2006, which is the world's largest IPO to date.rnAgricultural Bank's IPO had a lacklustre debut, which analysts attributed to stock market jitters and investor concern that a slowdown in China's property market may lead to a spike in bad loans. The Hong Kong portion was only five times oversubscribed -significantly less than rival banks - and the bank's shares only rose 2.2% on their trading debut. Anticipating weak global demand, the bank's underwriters worked hard to secure early investors and gave top treatment to mutual funds that made early commitments.