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Goldman and Deutsche take lead in China bank IPO

Goldman Sachs and Deutsche Bank have secured lead roles in the blockbuster initial public offering of Agricultural Bank of China.

The mainland lender on Thursday announced that the two banks and China International Capital Corp would be the three joint global co-ordinators for its listing in Hong Kong.

Agricultural Bank is planning a dual initial public offering in Shanghai and Hong Kong that some analysts predict could raise Rmb200bn ($29bn), which would make it the world's biggest ever listing. Macquarie, Morgan Stanley and JPMorgan were also chosen to advise on the listing.

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