China's AgBank IPO could raise $28b

Agricultural Bank of China's planned share sale could raise as much as $28 billion, putting it on course to be the world's largest initial public offering (IPO).
AgBank plans to raise as $15 billion in Hong Kong and $13 billion in Shanghai before its shares start trading next month, Dow Jones Newswires said yesterday, citing details of a term sheet for the massive offering.
AgBank -- the last of China's four big lenders to list -- would price its shares on July 7 with trading in Hong Kong set for July 14, while the sale's bottom end would raise a total of about $19 billion.
Singapore state investment company Temasek Holdings plans to buy $300 million of Agbank shares while Middle Eastern sovereign-wealth funds Qatar Investment Authority and Kuwait Investment Authority are mulling an investment of more than a billion dollars.