Agricultural Bank of China (ABC), the only one not listed among China's Big Four state-owned banks, will get RMB 130 billion (US$19 billion) injection from Central Huijin Investment Co, an investment arm of China's sovereign wealth fund China Investment Corp (CIC), said ABC's vice president Pan Gongsheng on Wednesday.

The capital injection is said to pave the way for ABC's eventual public listing, and the lender maybe complete preparations for IPO in the second half of 2009.

Upon the completion of the capital injection, Central Huijin will take 50% stake in ABC, and China's Ministry of Finance (MOF) will own the remainder. By the end of 2008 or later, ABC is expected to be reformed into a stockholding bank.

Pan also noted the bank will issue several batches of subordinated bonds at the end of this year and the first quarter of next year in a bid to replenish its working capital prior to the initial public offering (IPO). The first batch of such bonds is expected to be RMB 20 billion.

The Chinese bank will work together with the MOF to dispose about RMB 800 billion non-performing loans (NPLs) within five years.

Agricultural Bank of China, established in 1979 to serve 800 million farmers in the country, has won approval from China's State Council on its a-year-delayed shareholding reform plan in an executive meeting on Tuesday.