Agricultural Bank to be awarded no more than 22.235 billion shares

Panorama June 9 China Securities Regulatory Commission announced in Wednesday, the SFC issued a review committee June 9, the 89th meeting in 2010, the ABC Company Limited's initial application was approved. Agricultural Bank of China Co., Ltd. is to be issued through the A+H issue listing, plans to issue no more than 22.235 billion shares of a-share, and H shares after the completion of the total share capital of the proportion of not more than 7% (not considering the issue of a shares issued by the option of excess placements), if the full exercise　　No more than 25.571 billion shares, accounting for the shares and H-shares after the completion of the total share capital ratio of not more than 7.87%. In addition, the Bank intends to conduct a simultaneous distribution of H-shares outside the territory, with a preliminary release of no more than 25.412 billion shares through the Hong Kong public offering and international placements. Assuming that there is no excess placement option to exercise A shares and H shares, after the issuance of ABC's and h shares, the share of H shares is no more than 8% of the total share capital issued by the bank, assuming full exercise of the option of excess placements of a-shares and H-shares, the shares of H-share and H shares are not more than 9.00 after the bank's shares issued %。　　The raised capital of H-share IPO will be used to replenish capital after deducting the issue fee. ABC said in the prospectus that the IPO will be used to enrich the bank's capital to support future business development after deducting the issuance fee.　　However, it did not disclose the total amount of funds raised, but said that the total amount of funds collected will be based on the actual number of shares and issue prices. ABC said it would increase the net assets of the company and increase the net assets per share of the company through the issuance of this and H shares. On the other hand, raising funds will boost the company's business growth and will have an impact on the return on equity.　　In addition, the company's capital adequacy ratio and core capital adequacy ratio will be improved after the funds are in place. The underwriters of ABC's A-share listing were finalized by four local investment banks, and the Joint Sponsorship Agency (the main underwriter) was China International Finance Limited and CITIC Securities Co., Ltd., and the co-underwriter of China Galaxy Securities Co., Ltd. and Guotai Securities Co., Ltd.　　Financial advisor selected China Merchants Securities Limited and Haitong Securities Co., Ltd. Agricultural Bank of China is the first commercial bank set up in the PRC, and the first national specialized banks after the reform and opening-up. Agricultural Bank of China was first established in 1951 and once again established in February 1979, becoming the dominant state-owned professional bank in rural economic field.　　Agricultural Bank of China ranked No. 223 in Fortune's top 500 rankings in 2008, with Moody's credit rating a1/stable. As of December 31, 2009, AgBank's total assets amounted to 8,882,588,000,000 yuan, accounting for 11.3% of the total banking assets in the country, with a total loan of 4,138,187,000,000 yuan, accounting for 9.7% of total bank loans, and 7,497,618,000,000 yuan in total bank deposits in China.12.3%. (Panorama net/Chen Danyong)