Chinese Bank's IPO Poised to be Largest in History

If the initial public offering of Agricultural Bank of China hits the $23 billion mark, it may become the largest IPO in history, says the Wall Street Journal.

 

According to the Journal, AgBank, owned by the Chinese government, has about 24,000 branches and the largest customer base in the world.

 

"The fact that the Chinese government is able to sell a vast amount of shares in what is clearly not its highest-quality bank, during volatile markets, shows how the baton is passing from the developed to emerging markets," Julian Mayo of Charlemagne Capital in London told the Journal.

 

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