Middle Eastern sovereign wealth funds have emerged as the most prominent international backers of Agricultural Bank of China's planned $23bn-plus initial public offering.
The sovereign wealth funds of Qatar and Kuwait have agreed to invest $2.8bn and $800m, respectively, as cornerstone investors in what is expected to be the world's biggest IPO.
Other notable investors in the Hong Kong portion of the Agricultural Bank offering include Temasek, the Singapore state investment fund, which plans to invest $200m, and Li Ka-shing, Hong Kong's richest man.
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