Ant’s record-breaking IPO attracts $3 trillion in retail-investor bids
- Date: 30-Oct-2020
- Source: Business Insider
- Sector:Financial Markets
- Country:Middle East
Ant’s record-breaking IPO attracts $3 trillion in retail-investor bids
An Ant Group logo is seen at the company's headquarters on October 28, 2020 in Hangzhou, Zhejiang Province of China.
Chen Zhongqiu/VCG/Getty Images
Ant Group's historic $35 billion IPO is garnering unprecedented interest from retail investors in Shanghai and Hong Kong.Jack Ma's financial services company took in more than $3 trillion in orders from individual investors across its dual listings in Hong Kong and Shanghai.Roughly 19.1 trillion yuan (2.9 trillion) worth of bids was raised in the Shanghai portion, according to regulatory filings. The Hong Kong allocation drew 1.3 trillion Hong Kong dollars ($168 billion) in bids, sources familiar with the matter told Reuters.The Shanghai allocation was oversubscribed by 872 times, while the Hong Kong half saw bids for 389 times the shares on offer.Visit the Business Insider homepage for more
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