ABC plans 150b yuan public float

Lender likely to sell shares on Shanghai, Hong Kong bourses

Agricultural Bank of China (ABC), the only bank among the Big Four State-run lenders yet to float shares, is planning to raise up to 150 billion yuan through a dual listing in Shanghai and Hong Kong as early as April this year, people with knowledge of the matter told China Daily.

The nation's third largest lender by assets plans to issue some 50 billion shares in the Shanghai and Hong Kong bourses, with an indicative price of about 3 yuan for the Shanghai A share, said the source, who did not want to be identified due to the sensitive nature of the matter.