Retail investors bid record $3 trillion for Ant Group shares
Retail investors bid record $3 trillion for Ant Group shares
HONG KONG (Reuters) - Retail investors bid for a record $3 trillion worth of shares in Ant Group Co Ltd’s dual listing, in an unprecedented show of interest from mom-and-pop savers betting on demand for its financial technology services in China.
The world’s largest initial public offering (IPO) was split fairly evenly between Shanghai’s STAR Market and Hong Kong, raising about $37 billion including the greenshoe option of the Shanghai leg. From retail investors alone, it attracted a bid value the equivalent of Britain’s gross domestic product.
Here’s how China and Hong Kong retail investors managed to reach that mammoth figure:
HOW MUCH RETAIL DEMAND DID ANT’S IPO GENERATE ON THE MAINLAND?
Chinese retail bids for Ant shares amounted to $2.8 trillion. That compared with the $19.8 billion the 16-year-old fintech giant raised in the entire Shanghai portion of its IPO, including the greenshoe - or overallotment - option.
Ant in a statement late on Thursday said it will allocate retail investors about 350 million sharesï¼
