MARKET TALK: StanChart's AgBank Investment Unlikely Big Boost

30th Jun 2010 08:35

0735 GMT [Dow Jones] Any benefits, either on capital appreciation or strategic cooperation, for Standard Chartered (2888.HK) from investment in Agricultural Bank of China (1288.HK) unlikely to be significant, as least in short term, stock unlikely to react too much to news emerging market-focused lender will invest US$500 million in AgBank's HK flotation. Investment about 1% of StanChart's market cap; 2 banks plan to leverage off each others' strengths, have agreed to explore opportunities for collaboration across StanChart's international network, AgBank's domestic network. Stock down 1.2% at HK$194.80 vs HSI down 0.7%. HK tranche of AgBank IPO to be priced on July 7, HK trading debut expected July 16. ([email protected]) Contact us in Singapore. 65 64154 140; [email protected] (END) Dow Jones Newswires June 30, 2010 03:35 ET (07:35 GMT)