Ant Group’s $34.5bn IPO Oversubscribed By $3trn

Ant Group raised over $34.5 billion in Hong Kong and Shanghai. The company recorded a huge retail investors bid of $3 trillion which equals the Gross Domestic Product (GDP) of the United Kingdom. Ant Group, a company that is in charge of the biggest payment platform in China records a mad rush for its stock in its IPO as a huge interest set in among both institutional and retail investors. This is groundbreaking as many speculated that the upcoming U.S. presidential election set next week would have a negative effect…

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Jack Ma’s Ant Group sets price for record $35b IPO

Jack Ma’s Ant Group sets price for record $35b IPO

Ant Group Co has set the price for its initial public offering (IPO) in Shanghai, paving the way for a blockbuster sale that may give the Chinese fintech giant a valuation higher than JPMorgan Chase & Co. Billionaire founder Jack Ma, speaking at a weekend conference, said Ant has determined the IPO price, though he did not disclose the amount. Pricing details for the China shares are expected by today, Tuesday, with the Hong Kong price to be announced as soon as Oct 29, people familiar with the matter have…

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