State-owned Agricultural Bank of China Ltd. held steady in its trading debut Thursday after raising up to $22.1 billion in a mammoth initial public offering despite the global crisis and concern about its profitability.
Shares of the Agricultural Bank of China (ABC) opened 2.24 percent higher than its initial public offering price of 2.68 yuan (40 cents) on its first day of trading on the Shanghai bourse Thursday. ABC stable in trading debut
Agricultural Bank of China (ABC) is the second company in the history of the Shanghai stock exchange to embrace the "green shoe" option - known in legal jargon as an over-allotment option - which allows members of its initial public offering (IPO) underwriting syndicate to sell additional shares if demand exceeds the original offering.
Agricultural Bank of China (ABC) has the potential for bigger profits in the coming years, mainly from its brisk intermediary business, improving asset quality and better cost controls, said ABC's management in the road show.
Agricultural Bank of China saw net profit rise 40 percent in the first half of the year to 46 billion yuan ($6.8 billion), the Shanghai Securities News reported on Tuesday.
Core capital adequacy ratio of Agricultural Bank of China is expected to rise beyond 10 percent after collecting more than $22 billion via a dual listing later this week, Moody's said in a report on Monday.
Agricultural Bank of China (ABC), the last of the country's largest four banks to go public, announced on Friday it has set its H-share initial public offering (IPO) price at HK$3.2 ($42 cents) per share, which was in the middle level of its IPO price range.
Agricultural Bank of China(ABC), the last of China's big State owned banks to go public, is set to raise more than $22 billion from an initial public offering, defying global market weakness to stage the world's largest IPO.
Despite different reasoning behind the decision to subscribe to the shares of Agricultural Bank of China (ABC), institutional investors have shown strong interest.
Few key international financial companies appeared in the lineup of foreign investors for Agricultural Bank of China's (ABC) initial public offering, reflecting a subtle change in the relationship between Chinese banks and their Western peers. 
Investors get cold feet
Good response from institutions
ABC's float ripples to have little impact
Full Coverage
The hype is there, but the brouhaha is missing, as Agricultural Bank of China (ABC) gets ready to launch its mega float on the mainland market.
Agricultural Bank of China will exercise an overallotment option for the Shanghai portion of its initial public offering, a source with direct knowledge of the deal said on Wednesday.
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