May 30 (NBD) -- Agricultural Bank of China ("ABOC", 601288.SH) announced Tuesday that the Issuance Examination Committee of the China Securities Regulatory Commission (CSRC) approved the bank's application of non-public stock issuance.

In mid March this year, ABOC launched its private placement plan to raise no more than 100 billion yuan (15.6 billion U.S. dollars) through issuing no more than 27.473 billion A-shares. Upon completion, the deal will be the largest ever refunding in the A-share market.

The 7 target subscribers include Central Huijin Investment Ltd., the Ministry of Finance, China National Tobacco Corporation, Shanghai Haiyan Investment Management Company Limited, Zhongwei Capital, China National Tobacco Corporation Hubei Province Company and New China Life Insurance Co., Ltd.

Email: gaohan@nbd.com.cn