ABC listing won't happen this year – report

Agricultural Bank of China’s (ABC) initial public offering may not happen this year as supposedly planned due to differences over the bank’s future related to farmers and the agricultural sector, state media reported. "Top policy makers are yet to reach a consensus on whether to run the lender as a commercial entity or maintain its rural finance unit as a policy lending arm of the State," sources close to the bank said. Earlier state media reports indicated that ABC, the only remaining "Big Four" state bank not to be listed, was planning to raise up to US$22 billion in a public listing as early as April this year. China’s state pension fund had indicated that it was likely to invest up to US$2.9 billion in the bank as a strategic investor ahead of a listing.