The last of China's 'big four' state-owned commercial banks to go public, the Agricultural Bank of China (ABC), has received approval from the China Securities Regulatory Commission (CSRC) for its A-share IPO.

This marks a critical step in the bank's plan to launch a dual listing in Shanghai and Hong Kong, which is expected to raise between US$17.6bn and US$23bn when it is expected to be launched in mid-July.

According to the bank's A-share IPO draft prospectus, Beijing's DeHeng Law Office has secured the role as the issuer's legal advisor, while King & Wood has been appointed as the legal advisor to the lead underwriters - CICC, Citic Securities, Galaxy Securities and Guotai Junan Securities. 

DeHeng's managing partner Wang Li leads the firm's team on the IPO, consisting of partners Xu Jianjun and Li Guangxin and lawyers Wu Lianhua and Sun Yanli. King &Wood's legal team is co-headed by partners Yang Xiaolei, Tang Lizi and Su Zheng.

King & Wood recently advised Bank of Communication on its US$4.9bn right issuance in Shanghai and Hong Kong, and, in 2006, it acted for Industrial and Commercial Bank of China in its A+H share IPO, which raised US$22bn and is the world's largest IPO to date. ALB

Related stories:

• King & Wood and Grandall advise on BoCom US$4.9bn rights issue
• Equity market: Shanghai chasing international dreams
• Four PRC firms in M&A top ten