Home / World News / Ant Group lures Fidelity, T Rowe Price, UBS Asset for a piece of its IPO

Ant Group lures Fidelity, T Rowe Price, UBS Asset for a piece of its IPO

Jack Ma's Chinese fintech giant is one of the most hotly anticipated IPOs in years, on course to make history by surpassing Saudi Aramco's record $29 billion share sale last year.

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Photo: Reuters

2 min read Last Updated : Oct 23 2020 | 11:14 PM IST

T Rowe Price Group, UBS Asset Management, and FMR, the parent of Fidelity Investments, are among the money managers angling for a piece of Ant Group’s blockbuster initial public offering, a person familiar with the matter said.

Each of the firms is considering investments worth several billion dollars in Ant’s Hong Kong-listed shares, tho-ugh they’ve yet to finalise plans and there’s no guarantee they’ll get an allocation, the person said.

Ant is expected to start taking orders for the Hong Kong portion of its dual listing on October 26 and price shares as soon as October 29, people familiar with the matter

Topics : IPO Ant Financial T Rowe Price

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