Standard Chartered Plc bank is planning to make an investment of $500 million in Agricultural Bank of China. The bank has made this announcement in the initial public offerings.

Agriculture Bank of China is looking for $20 billion in Hong Kong and Shanghai IPO. More details about the investment by Standard bank can be found on the website.

This investment by the SC Plc will take over more than 2% of the AgBank shares.

An expert has said that this deal will prove to be very beneficial for Standard Chartered.

The shares of Standard Chartered have been underperforming at FTSE 100 index. The shares of the bank were on 16.60 pounds, yesterday.

Standard Chartered is based in London, and it makes more than fourth- fifth of its total profits from Asia. This deal with AgBank will enable SC Plc to derive the advantage from AgBAnk’s home market. AgBank in turn will be benefitted by the international presence of Standard Chartered.

According to Standard Chartered, this deal may lead to international trade corridors, consumer finance sectors, share information and access to capital markets.

Agricultural Bank of China was started in 1951 and it has more than 23,000 branches, 320 million retail customers and nearly 2.6 million commercial customers.