Agricultural Bank of China, the largest Chinese bank by customer numbers and branch network, said on Tuesday that it raised Rmb50bn ($7.3bn) in the country's largest ever bond issue as it prepares for an expected initial public offering in Shanghai and Hong Kong.
Some analysts said the bond sale raises doubts over whether the bank will follow the model of the country's other major banks and introduce foreign strategic investors before selling shares to the public.
ABC is the last of China's giant, state-controlled lenders to be restructured and recapitalised by the government and finally rid itself of an enormous stock of bad loans accumulated in the 1990s.
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