Agricultural Bank of China (AgBank) said on Sunday it had fully exercised an over-allotment option for the Shanghai portion of its initial public offering, taking total proceeds from the offer to $22.1 billion, making the IPO the world’s biggest.
The statement by AgBank, posted on the website of the Shanghai Stock Exchange, confirmed a Reuters report on Friday.
The exercise of the over-allotment, also known as a greenshoe, pushed AgBank’s Hong Kong and Shanghai offering past Industrial and Commercial Bank of China’s (ICBC) $21.9 billion IPO four years ago.