China's national pension fund has invested Rmb15bn ($2.2bn) in Agricultural Bank of China in preparation for an initial public offering that is expected to be the world's largest at about $30bn .
The Rmb777bn National Council for Social Security Fund is China's main national pension fund and has investments in all of the country's largest listed state-owned banks.
Agricultural Bank is planning to sell its shares by the end of July in both Hong Kong and Shanghai in a dual IPO that could raise a combined $30bn. This latest investment makes SSF the bank's third largest shareholder after the Ministry of Finance and China's sovereign wealth fund.
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