AgBank says Qatar wealth fund to remain long-term investor

HONG KONG, July 15 Fri Jul 15, 2011 2:42am EDT

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HONG KONG, July 15 (Reuters) - Qatar's sovereign wealth fund will remain a long-term investor in Agricultural Bank of China Ltd even after its lock-up period expires on Monday, a senior executive at the Chinese lender said on Friday.

The Qatar Investment Authority (QIA) and AgBank would also maintain a strategic relationship over the long term, AgBank's secretary to the board of directors Li Zhenjiang told Reuters.

QIA is AgBank's largest non-state investor, holding 6.82 billion shares that are currently worth about $3.5 billion. Other cornerstone investors that bought into the IPO of China's No.3 bank by assets include the Kuwait Investment Authority and Standard Chartered Plc . (Reporting by Victoria Bi; Editing by Chris Lewis)

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