Julie Zhu, Sumeet Chatterjee
Julie Zhu, Sumeet Chatterjee
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Ant Group's IPO sees record $3 trillion in retail demand

Ant Group's IPO sees record $3 trillion in retail demand

By , HONG KONG (Reuters) - Retail investors placed bids for a record $3 trillion of shares in Ant Group Co Ltd’s initial public offering (IPO), set to be the world’s biggest, as mom-and-pop savers bet on demand for its financial services in China.Ant’s dual listing is set to raise about $34.4 billion, split fairly evenly between Shanghai’s STAR Market and Hong Kong, topping Saudi Aramco’s $29.4 billion listing last December.Investors, both retail and institutional, are rushing to buy into Ant, which operates China’s biggest payments platform and other financial services, despite risks of...

October 29, 2020
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reuters.com

reuters.com

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