Agricultural Bank of China (AgBank), the smallest of the country's Big Four banks, will apply this week for a massive $30 billion IPO, racing with rivals to raise funds as Beijing mops up excess cash from the economy.

AgBank plans to submit formal applications for a dual listing in Shanghai and Hong Kong this week with an eye to launching its IPO, the world's biggest ever, in July or even earlier, sources told Reuters on Monday.

"We all know the market window could be closed anytime within the next few months so whoever can sell their IPO first wins," said one source who was briefed on the bank's IPO plan.

"After China Construction Bank announced its rights issue plan, AgBank definitely felt more hurried to push its IPO plan forward," said the source. The sources declined to be named as they were not authorised to speak to the media. [Read the full article]

After dropping its original price range at the last minute last week, Essar Energy was successful in holding the biggest initial public offering in London since 2007, The Telegraph wrote.

On Friday, it was reported that the company had dropped its price range from 450 pence-500 pence to 420 pence in what the company called a pragmatic decision to ensure its offer was fully subscribed.

The $2 billion flotation will now see Essar considered for inclusion in Londons FTSE 100 share index.

Prashant Ruia, chief executive of Essar Group said it was very heart-warming that the company had secured high-quality institutional investors despite market volatility and the Greek bond crisis, The Telegraph reported.

JP Morgan Cazenove said the group has a complex structure and a lack of clarity on the flow of funds between the U.K. [Read the full article]

NVC Lighting plans to raise up to $272 million in a Hong Kong initial public offering, Reuters reported citing a source close to the deal.

The Chinese lighting products supplier is selling about 727 million shares with Goldman Sachs and HSBC underwriting the offering. The company is part-owned by Goldman.

NVC Lighting plans to raise up to $272 million in a Hong Kong initial public offering, Reuters reported citing a source close to the deal.

The Chinese lighting products supplier is selling about 727 million shares with Goldman Sachs and HSBC underwriting the offering. The company is part-owned by Goldman. [Read the full article]

Swire Properties is eyeing 20.8 billion Hong Kong dollars ($2.7 billion) in a Hong Kong I.P.O., Bloomberg News reported. The offering would be Hong Kong’s biggest since 2007.

Swire is looking to sell 910 million new shares at a range of 20.75 Hong Kong dollars and 22.90 Hong Kong dollars each. The stock is to be priced May 7. Trading would begin May 14, Martin Cubbon, executive director of parent Swire Pacific Ltd., told reporters.

Swire, which is landlord to Time Warner and Societe Generale in Hong Kong, is the biggest commercial landlord in eastern Hong Kong island.

Swire Properties is eyeing 20.8 billion Hong Kong dollars ($2.7 billion) in a Hong Kong I.P.O., Bloomberg News reported. The offering would be Hong Kong’s biggest since 2007.

Swire is looking to sell 910 million new shares at a range of 20.75 Hong Kong dollars and 22.90 Hong Kong dollars each. The stock is to be priced May 7. [Read the full article]