FACTBOX-Diverse group on AgBank’s planned investor list

June 18 (BestGrowthStock) – Sovereign wealth funds from the Middle
East, European banks, and Asia’s third-richest person are said
to have committed to invest in Agricultural Bank of China’s
[ABC.UL] IPO, likely to be the world’s biggest at more than $23
billion.

Should AgBank, China’s third-largest lender with $1.4
trillion in assets, get the maximum amount of commitments from
all its so-called cornerstone investors, it could have raised
up to $9.2 billion before the IPO is even priced.

Getting cornerstone investors on board should help the
state-owned lender keep up the impetus for its IPO, and help
draw in new investors. [ID:TOE65H034]

Following are some of the cornerstone investors, who
sources say have committed to the Hong Kong portion of the IPO.

As in any deal, investors may raise or reduce their stake,
or back out. Final commitments are not yet known.

QATAR INVESTMENT AUTHORITY and the KUWAIT INVESTMENT
AUTHORITY

– the MidEast sovereign wealth funds are being asked to
commit to $1 bln each, as Qatar, in particular, has
aggressively spent on overseas deals since last year.

– the two could end up taking up as much as 30 percent of
the Hong Kong offering allocated to cornerstone investors,
sources say.

CHINA LIFE INSURANCE (601628.SS: )

– the Chinese insurer routinely invests in Greater China’s
large IPOs.

– it has committed to the H-share offering in Hong Kong and
could invest in the Shanghai A-share IPO as well.

TEMASEK HOLDINGS [TEM.UL]

– the Singapore state investor will invest $200-$300
million in the IPO, according to sources and media reports.

– Temasek in recent years has moved away from financial
industry investments, diversifying into resources and
infrastructure.

STANDARD CHARTERED (STAN.L: )

– Britain’s emerging market-focused bank, 18 percent-owned
by Temasek, signed a strategic agreement with AgBank ahead of
the IPO [ID:nTOE65G03H].

– while the release on that agreement did not mention an
investment, sources say StanChart may invest up to $500 million
in AgBank.

RABOBANK [RABO.UL]

– the Netherlands-based, privately-owned bank has focused
on taking deposits and providing financing from
agricultural-based people and industries, much like AgBank.

– the two signed a strategic partnership recently, and
sources say Rabo will invest up to $200 million in AgBank.

LI-KA SHING

– the man who built his empire from plastic flowers is
Asia’s third wealthiest man, according to Forbes.

– he is also in charge of real estate group Cheung Kong
Holdings (1038.HK: ) and Hutchison Telecommunications (0215.HK: ),
among other businesses.

– Li, with other Hong Kong tycoons, is a frequent
participant in Hong Kong’s cornerstone investing market for
large IPOs.

PETROCHINA (601857.SS: )

– Chinese media say PetroChina is expected to be a
cornerstone investor in AgBank’s Shanghai offering.

CHINA INVESTMENT CORP [CIC.UL]

– China’s near-$300 billion sovereign wealth fund is also
expected to invest in the A-share (Shanghai) offering.

Stock Market Report

(Reporting by Denny Thomas, Kennix Chim and Michael Flaherty;
Editing by Ian Geoghegan)

FACTBOX-Diverse group on AgBank’s planned investor list