Ant’s record IPO attracts $ 3 trillion in retail-investor auction

• Ant group Historic $ 35 billion initial public offering Gains unprecedented interest from retail investors in Shanghai and Hong Kong.
• Jack Ma’s financial services company has received more than $ 3 trillion in orders from individual investors on its dual lists in Hong Kong and Shanghai.
• According to the regulatory filing, about 19.1 trillion yuan (9 2.9 trillion) worth of bids were raised in the Shanghai area. Hong Kong’s bid raises 1.3 trillion Hong Kong dollars ($ 168 billion) Sources told Reuters.
• The Shanghai quota was 872 times more subscribed, while the Hong Kong half was auctioned for 389 times the shares.
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The Ant Group aims to raise more money in its initial public offering More than anything else in history, And the massive introduction triggers a similar unprecedented demand among retail investors.

Jack Ma, a subsidiary of the Alibaba empire-based financial services company, has received more than $ 3 trillion in orders from retail investors on its dual lists in Hong Kong and Shanghai. About 19.1 trillion yuan (9 2.9 trillion) worth of bids were raised in the Shanghai area of ​​the IPO, according to the regulatory filing. The volume of the issue of traded shares is 872 times.

Hong Kong’s debut pulled in $ 1.3 trillion ($ 168 billion), Sources familiar with the matter told Reuters. It was set to receive approximately 389 times the shares. The city’s next biggest debut was the Hong Kong installment which almost doubled in bids.

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Interest in the company’s introduction was so intense that a broker’s site crashed, Bloomberg Report.

The ant is set to raise $ 34.5 billion in two offerings in November, breaking the IPO-action record set by Saudi Aramco last year. This listing ant could be valued at more than $ 313 billion. The company is set to start business in Hong Kong on Thursday; It is not clear when the shares in Shanghai will start trading.

The tidal wave of retail demand suggests that individual investors have not been put off by the sheer number of risks facing the company. For one, the IPO was delayed until the beginning of next month for China’s market regulator The interest-conflict investigation is said to be open Whether Alibaba, the ant’s primary site, is the only channel through which retail investors can access IPOs.

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The ant faces study in the United States. The State Department proposed to add the company to its trade block list, Reuters reported earlier this month. Under the Trump administration, Chinese hawks are said to want to prevent US investors from participating in the company’s IPO.

The move is a continuation of aggressive trade measures that keep US-China tensions at a high level. If President Donald Trump is re-elected, the ant could continue to be the target of a U.S. investigation.

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