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BEIJING - Agricultural Bank of China (ABC) is set to raise up to $23.2 billion in the world's largest listing, according to the price range the lender set for its shares.
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The lender last week priced shares in the Hong Kong part of its IPO at 2.88 to HK$3.48 ($0.37 to $0.45).
ABC said it would offer 22.23 billion A-shares in Shanghai and 25.41 billion H-shares in Hong Kong, excluding an over-allotment option, in the preliminary prospectus it submitted to the China Securities Regulatory Commission (CSRC).
The pricing of the shares means ABC, the last of China's "big four" state-owned banks to float shares, would be able to raise up to $23.2 billion, set to beat a record $21.9 billion raised by Industrial & Commercial Bank of China in 2006.
The CSRC earlier this month approved ABC's IPO application for dual listing in Shanghai and Hong Kong, which is scheduled at mid-July.