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Ant Group sets stock price Friday, raising US$34.5 billion in dual listings (in Shanghai and Hong Kong), making it the largest IPO ever, CNBC reports rice field.
Ant Group raised HK$133.6 billion (approximately JPY 1.8 trillion) by issuing 1.67 billion new shares at HK$80 (approximately JPY 1,080) per share in Hong Kong, and raised RMB 68.8 (approximately JPY 1,070) per share in Shanghai. yen) to raise 114.9 billion yuan (about 1.8 trillion yen) by selling the same amount of shares. Based on pricing, Ant Group is valued at US$313 billion.
Ant Group information has surpassed US$29 billion in Saudi Aramco listing, making it the largest IPO in history.
Ant Group is expected to start trading in Hong Kong on Nov. 5, though details of its Shanghai listing have not been disclosed. Singapore's sovereign wealth funds GIC and Temasek Holdings will also participate in the IPO buybacks on both exchanges.
Alibaba has agreed to purchase 730 million A shares through its subsidiary, Zhejiang Tmall Technology, which will give Alibaba an estimated 33 million shares in Ant Group. It became possible to maintain a 100% stake.
Meanwhile, Ant Group will pay up to US$198 million in underwriting fees to banks selling shares in Hong Kong.
Other Chinese tech companies such as NetEase and JD.com have already raised billions of dollars by listing on Hong Kong exchanges.
【via Tech in Asia】 @Techinasia
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BRIDGE operates a membership system "BRIDGE Members". BRIDGE Tokyo, a community for members, provides a place to connect startups and readers through tech news, trend information, Discord, and events. Registration is free.Free member registration
