KPMG tipped for Ag Bank mandate

With its experience acting as listing auditor with China Construction Bank, KPMG was tipped to play the same role for Agricultural Bank of China as it prepares for its initial public offering, the South China Morning Post reported. KPMG had also been signed by China's Ministry of Railways as listing auditor, as it prepares to spin off a subsidiary for public listing in line with earlier commitments made by the railways ministry to seek capital market funds to help restructure China's railways. China Railway Container Transport Co would likely be a big component of the projected spin-off.