Agricultural Bank of China will exercise an overallotment option for the Shanghai portion of its initial public offering, a source with direct knowledge of the deal said on Wednesday.
Special Coverage:Focus on ABC's IPO PlanThe shares will be sold at 2.68 yuan (40 cents) apiece, the source said, bringing the total value of the Shanghai offering to 68.5 billion yuan .
AgBank, the last of China's "big four" state banks to go public, is selling shares in Shanghai and Hong Kong to replenish capital and drive growth.
