قالب وردپرس درنا توس
Home / Business / Ant Financial’s record-breaking IPO attracts $3 trillion retail investors to bid

Ant Financial’s record-breaking IPO attracts $3 trillion retail investors to bid



Ant Group
On October 28, 2020, an Ant Group logo will be seen at the company headquarters in Hangzhou, Zhejiang Province, China.

  • Ant Group’s historic US$35 billion IPO is attracting unprecedented interest from retail investors in Shanghai and Hong Kong.
  • Jack Ma’s financial services company has absorbed more than $3 trillion in orders from individual investors in its dual listings in Hong Kong and Shanghai.
  • Regulatory documents show that the total amount of bids in some areas of Shanghai is approximately 1
    9.1 trillion yuan (2.9 trillion US dollars). People familiar with the matter told Reuters that Hong Kong’s funding attracted 1.3 trillion Hong Kong dollars (US$168 billion) in bids.
  • Shanghai’s oversubscription reached 872 times, and half of Hong Kong’s bids reached 389 times the bid.
  • Visit the Business Insider homepage for more stories.

Ant Group’s goal is to raise more funds in IPOs than any other company in history, and IPOs are stimulating the same unprecedented demand from retail investors.

This financial services company is a branch of Jack Ma in the Alibaba empire. It has received more than $3 trillion in orders from retail investors in its listings in Hong Kong and Shanghai. Regulatory documents show that the Shanghai portion of the IPO raised approximately RMB 19.1 trillion (US$2.9 trillion) in offers. This amount exceeds 872 times the stock supply on the exchange.

A person familiar with the matter told Reuters that the Hong Kong initial public offering raised 1.3 trillion Hong Kong dollars (US$168 billion). This is approximately 389 times the available share to be set. As Hong Kong’s second largest debut, Hong Kong stocks also received nearly twice the bid.

read more: Steven Pesavento retired from his 9-5 career to work full-time in real estate investment. This is how he changed from an inexperienced technical leader to over 200 properties in just a few years.

Bloomberg reported that the interest in the company’s debut was so great that the platform of a brokerage firm collapsed.

Ant Financial will raise US$34.5 billion in two issuances in November, breaking the IPO transaction record set by Saudi Aramco last year. The listing may make Ant Financial’s valuation exceed US$313 billion. The company is scheduled to start trading in Hong Kong on November 5. It is not clear when the stock will start trading in Shanghai.

The wave of retail demand shows that individual investors are not delayed because of the many risks that companies face. On the one hand, it was reported that the IPO was postponed earlier this month after the Chinese market regulator investigated the company’s potential conflict of interest. The China Securities Regulatory Commission investigated whether Ant Financial’s flagship platform Alipay is the only channel for retail investors’ initial public offerings.

Ants are also facing censorship in the United States. According to Reuters, the State Council recommended adding the company to its trade blacklist at the beginning of this month. According to reports, Chinese hawks in the Trump administration want to curb the motivation of American investors to participate in the company’s IPO.

This move has also intensified a series of radical trade measures, keeping the Sino-US tensions at a high level. If President Donald Trump is re-elected, then ants will become the target of continued investigations by the United States.

Now, read more market reports from Markets Insider and Business Insider:

Morgan Stanley (Morgan Stanley) detailed that as investors become more and more satisfied with the growth of Min Chairman’s roll, the performance of the three transactions will outperform the market.

Fearing that the virus will reignite, the comfort level of American consumers has dropped to the lowest level since August

Bank of the United States of America: Buy these 6 foods that are most suitable for Halloween celebrations at home, because towns curb trick-or-treating


Source link