China's securities regulator on Wednesday approved Agricultural Bank of China's application for its planned $20bn (€16.7bn) to $30bn initial public offering in Hong Kong and Shanghai, removing the last hurdle or what could be the world's largest-ever share float.

The decision by the China Securities Regulatory Commission also ended a brief bout of speculation over a possible delay in the IPO given signs of lukewarm interest and concerns over AgBank's likely high valuation and less attractive business fundamentals compared with its local peers.