Agricultural Bank of China Co., Ltd. (“ABC”, “the Issuer”) successfully announced its non-public preference shares offering (“the Offering”) on Nov. 14, 2014, which has been listed on the Shanghai Stock Exchange since Nov.28th, 2014. A total of 400 million shares were offered, raising proceeds of RMB 40Bn which will be used to replenish the Issuer’s Additional Tier-1 capital. Adjustment of the dividend rate will be conducted every five years, and the starting rate during the initial five years is decided at 6.00% through book-building procedure. The issuer is rated AAA and the preference shares is rated AA+ by China Chengxin International Credit Rating Co., Ltd. CICC acted as Joint Lead Underwriter in this deal, which marks the first one in the domestic market since release of Experimental Administrative Measures on Preference Shares as well as one of the largest preference sharesofferingsglobally so far this year.