China regulator to study Agricultural Bank's IPO bid

Lender aims to replenish capital as banks could face losses if debts not repaid.

The state-owned Agricultural Bank of China plans to sell a 15 percent stake in what could become the world's largest initial public offering, China's securities regulators said.

The China Securities Regulatory Commission posted the bank's application online Friday and said it will review it Wednesday.

Agricultural Bank is one of China's top four state-owned commercial lenders and the last of the four to sell shares to the public. The Beijing-based bank is China's main rural lender. The bank's application says its profit rose 26 percent to 65 billion yuan ($9.5 billion) in 2009.

The bank's IPO application says it plans to sell 22.235 billion shares on Shanghai's stock exchange and 25.41 billion shares in Hong Kong. No price range was announced.

The move comes as China's government is concerned that its banks might face problems if they cannot repay multibillion-dollar borrowing.

View the full story in Google News.

Follow the link for more news on

Also Read

Mizuho allots $12.95b to finance hydrogen production

Japan’s MUFG invests $5.9m in Hitachi to launch 1,000 e-buses in the UK

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit