The Agricultural Bank of China is positive about getting the world’s biggest stock market listing title. The bank had urged investors to bid for the initial public offerings before Easter; however, these offerings of the thirds largest bank of China would come either in the last month of this year or in the starting of 2011.
After this announcement by the AgBank, all the western Banks trading in Hong Kong started planning of their bid applications, amounts and teams, as well.
The initial public offering by the Agriculture Bank of China is expected to be one of the largest public offerings in China. The deal by the Agriculture bank is estimated to be around $30 billion. It can also be the largest initial public offering in the world, till date.
The investors in the equity capital market tried their hard to persuade the management in the agriculture bank to be chosen for the lead.
This initial public offering affected the economic growth in China and also could not do well among the new global financial Institutions. The funds and investors for the AgBank are not clear, as of now.
The shares of the bank yesterday ended at 3.27 Dollars, this was 2.2% more than the offered price.