BEIJING, April 16 (Reuters) - Agricultural Bank of China [ABC.UL] will raise at least $30 billion in its upcoming initial public offering, Vice President Pan Gongsheng said in remarks reported on Friday.
Pan was speaking to the Beijing News, which quoted an unnamed source as saying the share sale might be completed by September.
Sources involved in the dual Hong Kong and Shanghai listing had told Reuters that the offering was widely expected to take place in the third quarter.
A $30 billion IPO, at the top end of the range estimated by banking experts, could generate about $600 million in fees.
AgBank is the only one among China's big four state-run lenders that has yet to float shares.
Its IPO is on course to surpass the record $22 billion listing of Industrial and Commercial Bank of China in 2006.
