CHINA / National |
Agriculture Bank of China likely to list in 2008(AFP)Updated: 2007-02-06 15:30 BEIJING - The Agriculture Bank of China, the country's fourth largest lender, is aiming to go public in 2008, according to state media reports. While the exact time and place have not been decided yet, the bank is very likely to go to market next year if reforms to become a stockholding company go smoothly, the China Securities Journal said, citing unnamed sources. The reform is expected to be completed by the end of this year and the bank would probably choose a dual listing in both Shanghai and Hong Kong if the conditions are right, the paper said.
The bank is in close contact with a number of large foreign financial institutions in preparation for the introduction of overseas strategic investors, according to the report. "The bank aims to complete financial restructuring in the second half of this year after receiving a capital injection... and then issue subordinate bonds to improve its capital adequacy ratio," the source said. |
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