WILL AGRICULTURAL BANK OF CHINA DO RELIANCE POWER LISTING ?

The Agricultural Bank was the latest in a long series of Chinese companies to go public since China reopened its stock markets 20 years ago. Its current incarnation, created in 1979, has 320 million retail customers, 2.7 million corporate clients, nearly 24,000 branches and $1 trillion in deposits. In 1998, the Beijing government spent 270 billion renminbi, then worth about $33 billion, to recapitalize the nation’s four big banks. It then bought up 346 billion renminbi ($50.9 billion) in worthless loans from the Agricultural Bank.
The bank now says its nonperforming loans total about 2.9 percent of assets, still the largest officially reported share among major Chinese banks. Many analysts say the actual figure is far higher.
The bank’s shares were sold simultaneously in Hong Kong and Shanghai. In Hong Kong, the stock was priced at about 3.20 Hong Kong dollars each, in the middle of the expected range. In Shanghai, the Class A shares — which only Chinese nationals can buy — were priced at 2.68 renminbi, the high end of expectations. The shares are expected to start trading in mid-July.

Global  and Retail investors are running  behind IPO,this was same scenario we saw when RELIANCE POWER IPO . It almost drained liquidity in system and we saw CHINESE INDEX touch new low on monday.Because CHINESE economy which is second in the world and control Commodities in a large extent ,we getting sign of a global sell off after IPO listing.