ABC’s Pan Gongsheng: How Pan handled the IPO process

Pan Gonsheng was the key executive on Agricultural Bank of China’s $22 billion IPO. Bankers who worked on the deal have little but praise for the way he managed a daunting process. Pan tells Lawrence White in Beijing how he and his team did it, and where ABC goes from here.

What were the factors that influenced your decision to get ABC’s IPO done on such a tight schedule?

There were several reasons. First, we had already done much of the preparation work, completing our financial restructuring by the end of 2008 and at the beginning of 2009 establishing the limited company that would issue the shares. We had done much of the background work, such as auditing, due diligence and completing a draft prospectus. We got the green light from the regulators by the end of March for an A+H share IPO and were ready.

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