Standard Chartered To Invest $500M In Agricultural Bank Of China IPO

30th Jun 2010 07:07

LONDON (Dow Jones)--Standard Chartered PLC (STAN.LN) said Wednesday that Standard Chartered Bank will invest $500 million as a cornerstone investor in Agricultural Bank of China Limited's H-Share Initial Public Offering in Hong Kong. MAIN FACTS: -The two banks recently signed an agreement to develop new business opportunities together. -Agricultural Bank of China had total assets of $1,306 billion at Dec. 31, 2009. -Shares closed Wednesday at 1659.5 pence. -By Iain Packham, Dow Jones Newswires; 44-20-7842-9269; [email protected] (END) Dow Jones Newswires June 30, 2010 02:07 ET (06:07 GMT)