AgBank signs investors, as Middle East eyes $2 billion stake | Reuters

Agricultural Bank of China has reached an agreement with a group of seven investors ahead of its massive initial public share offering, sources said on Friday, with two funds from the Middle East considering a stake that could exceed $2 billion.

With AgBank hoping to raise more than $23 billion, China's third-largest bank has signed up a diverse cornerstone investor list for its Hong Kong offering. The companies will appear in the prospectus due next week for what could be the world's largest ever IPO.

China Life (2628.HK)(601628.SS), Hong Kong tycoon Li-ka Shing, Kuwait's sovereign wealth fund, Rabobank RABO.UL, Standard Chartered (STAN.L)(2888.HK), Temasek Holdings TEM.UL and Qatar's sovereign wealth fund have all committed to invest, although the exact amount of each stake has yet to be determined.