皇冠体育app

Economy

Markets

Industries

Insights

Reports

Events

Agricultural Bank eyes $13b dual listing

(Agencies)
Updated: 2009-02-23 13:58

Agricultural Bank of 皇冠体育app, the country's second largest bank by assets, will begin marketing its dual listing plan in March, aiming to raise at least HK$100 billion ($12.8 billion), South 皇冠体育app Morning Post reported on Monday.

Related readings:  Govt ploughs $19b into Agricultural Bank of 皇冠体育app  Shareholding reform of agricultural bank approved  Agricultural Bank of 皇冠体育app profit up 39% in H1  Agricultural Bank reports NPL ratio up

The Beijing-based lender, the last unlisted member of 皇冠体育app's big four lenders, will bring a dual Shanghai and Hong Kong listing to the market by the last quarter of this year at the earliest, but the offering is more likely to occur in the first quarter of next year, the newspaper said, citing sources.

Agricultural Bank of 皇冠体育app will invite investment banks to a "beauty parade" in the first two weeks of March to seek mandates to underwrite and distribute the new share issue, the newspaper said. It gave no further listing details.

The plunge in global markets last year led to a near-halt in listings worldwide. But some smaller listing hopefuls have recently revived plans despite weak sentiment.