ABC signs up backers, proves China’s banks maintain allure

11 Jun 2010

Agricultural Bank of China is to begin pre-marketing its landmark initial public offering on Monday after an enthusiastic response from cornerstone investors, bankers said on Thursday.

ABC’s bookrunners reported "high demand" in a cornerstone process, with institutions including overseas sovereign wealth funds and strategic investors expected to confirm their commitments by the end of the week.

That comes as a boost to ABC’s chances of raising more than $20bn in the long-awaited dual listing ...

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