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NEW YORK — The Agricultural Bank of China’s initial public offering has raised more than $19 billion in what could become the largest IPO ever.
The last of China’s big four state-owned banks to go public, AgBank is selling 25.41 billion shares in Hong Kong and 22.24 billion shares in Shanghai. Based on Tuesday’s pricing, the rural lender would raise about $19.23 billion, according to a person familiar with the deal.
If underwriters buy up about $2.89 billion more in shares to sell to investors, the deal could raise $22.12 billion. The Associated Press
