Mega-IPO for last of the state-owned banks

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    Agricultural Bank of China (ABC), the last of the four state-owned lenders to list, raised US$19.2 billion in its initial public offering (IPO) and dual-listing…

    Agricultural Bank of China (ABC), the last of the four state-owned lenders to list, raised US$19.2 billion in its initial public offering (IPO) and dual-listing on the Shanghai and Hong Kong stock exchanges. Its global offering of H-shares comprised an international offering, a public offering in Hong Kong and an A-share offering in China. This is the largest IPO globally in 2010 to date and could be the world's largest ever if the overallotment option is fully exercised.

    Beijing-based DeHeng Law Office advised the issuer on PRC law in the mega-IPO. The team was led by Wang Li, Xu Jianjun and Li Guangxin. For Hong Kong law, ABC turned to a Freshfields Bruckhaus Deringer team led by Teresa Ko and Antony Dapiran. Davis Polk & Wardwell provided the US advice to ABC.

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