Home / World News / Ant Group's Shanghai retail book listing 872 times oversubscribed

Ant Group's Shanghai retail book listing 872 times oversubscribed

Ant is poised to raise about $17.2 billion on Shanghai's STAR Market and roughly the same in Hong Kong, shattering the record set by Saudi Arabian Oil Co

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Investors are rushing to buy into the fast-growing Chinese fintech firm, which operates the country's biggest payments platform and other financial services, despite risks of greater scrutiny at home and abroad

Reuters

3 min read Last Updated : Oct 30 2020 | 1:56 AM IST

The domestic retail book of Ant Group Co Ltd's $34.4 billion dual listing was 872 times oversubscribed as individual investors in China scrambled for a slice of the world's largest initial public offering (IPO), a company filing showed.

Ant is poised to raise about $17.2 billion on Shanghai's STAR Market and roughly the same in Hong Kong, shattering the record set by Saudi Arabian Oil Co (Saudi Aramco) with its $29.4 billion listing last December.

Investors are rushing to buy into the fast-growing Chinese fintech firm, which operates the country's biggest payments platform and other financial services, despite risks of

Topics : Jack Ma Jack Ma's Ant Financial raises $14 bn Alibaba initial public offerings IPOs

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