Factbox: Diverse group in AgBank's planned investor list
HONG KONG (Reuters) - Sovereign wealth funds from the Middle East, European banks, and Asia's third-richest man are said to have committed to invest in Agricultural Bank of China's ABC.UL IPO, likely to be the world's biggest at more than $23 billion.
Should AgBank, China's third-largest lender with $1.4 trillion in assets, receive the maximum amount of commitments from all its potential cornerstone investors, it may raise up to $9.2 billion before the IPO is even priced.
Getting cornerstone investors on board should help the state-owned lender add confidence to the IPO, and help draw in new investors.
Following are some of the cornerstone investors, whom sources say have committed to the Hong Kong portion of the IPO. As in any deal, investors may raise or reduce their stake, or back out.
Final commitments are not yet known.
* QATAR INVESTMENT AUTHORITY
The Qatar sovereign investor has agreed to invest $2.8 billion in AgBank, sources say. It has aggressively spent on overseas deals since last year.
* KUWAIT INVESTMENT AUTHORITY
The Kuwaiti sovereign wealth fund will invest $800 million in the AgBank IPO, according to sources. Together with Qatar Investment Authority, the two sovereign investors could end up with more than half the Hong Kong offering for domestic and international cornerstone investors allowed into the deal.
* CHINA RESOURCES HOLDINGS CO. LTD.
The parent company of China Resources Enterprise (0291.HK) will invest $200 million into AgBank, sources say.
* LEE SHAU-KEE
The founder of Henderson Land (0012.HK) will invest $100 million into AgBank, according to media reports.
* CHINA LIFE INSURANCE (601628.SS)
The Chinese insurer routinely invests in Greater China's large IPOs. It has committed to the H-share offering in Hong Kong and could invest in the Shanghai A-share IPO as well.
* TEMASEK HOLDINGS TEM.UL
The Singapore state investor will invest $200-$300 million in the IPO, according to sources and media reports. Temasek in recent years has moved away from financial industry investments, diversifying into resources and infrastructure.
* STANDARD CHARTERED (STAN.L)
The emerging market-focused bank, 18 percent-owned by Temasek, signed a strategic agreement with AgBank ahead of the IPO [ID:nTOE65G03H]. While the release on that agreement did not mention an investment, sources say StanChart may invest up to $500 million in AgBank.
* RABOBANK RABO.UL
The bank signed a strategic partnership with AgBank recently, and sources say Raboban will invest up to $200 million in AgBank.
* LI KA-SHING
Asia's third wealthiest man, according to Forbes, is in charge of real estate group Cheung Kong Holdings (1038.HK) and Hutchison Telecommunications (0215.HK), among other businesses. Li, with other Hong Kong tycoons, is a frequent participant in Hong Kong's cornerstone investing market for large IPOs.
* PETROCHINA (601857.SS)
Chinese media say PetroChina is expected to be a cornerstone investor in AgBank's Shanghai offering.
* CHINA INVESTMENT CORP CIC.UL
China's almost $300-billion sovereign wealth fund is also expected to invest in the A-share (Shanghai) offering.
HELSINKI - Finnish start-up Next Games has raised $6 million in funding in the latest of several venture capital investments in the Nordic country's booming mobile games industry, the company said on Wednesday.
BEIJING/HONG KONG - China reiterated its opposition on Thursday to a European Union plan to limit airline carbon dioxide emissions and called for talks to resolve the issue a day after its major airlines refused to pay any carbon costs under the new law.