Agricultural Bank of China (01288) plans to issue A-shares to the Ministry of Finance, China Tobacco, and others, raising no more than 160 billion yuan.

Agricultural Bank Of China (01288) announced that at the board meeting held on September 6, 2026, the board reviewed and approved proposals regarding general authorization and this issuance. On the same day, according to the A-share issuance plan, the bank signed share subscription agreements with the Ministry of Finance and China National Tobacco Corporation. The objects of this issuance are the Ministry of Finance and China National Tobacco Corporation along with its relevant subsidiaries (namely Jiangsu Tobacco, Zhejiang Tobacco, Hubei Tobacco, Beijing Tobacco, and Shuangwei Investment), collectively referred to as the subscribers. The number of A-shares to be issued will be determined by dividing the total amount of funds raised by the issue price and will not exceed 15% of the bank's total share capital prior to the issuance. The total amount of funds to be raised in this issuance will not exceed RMB 160 billion (including this amount) (equivalent to approximately HKD 185.06 billion), and after deducting relevant issuance costs, all will be used to replenish the bank's core tier one capital. The scale of the raised funds is subject to the final approval of the issuance plan by the relevant regulatory authorities.