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World's Largest IPO
Published on: 2020-10-27
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ANT 02Jack Ma's Ant Group has just pulled off the biggest share sale in history, marking a huge win for the Chinese tech champion and the country's stock market.

The tech company behind China's largest online payments platform priced its dual listing on the Hong Kong Stock Exchange and Shanghai's Star Market at 80 Hong Kong dollars ($10.32) and 68 yuan ($10.13) per share respectively, according to regulatory filings released Monday.

antThat means the initial public offering will raise over $34.1 billion and value the company at about $310 billion. The previous record for an IPO was held by Saudi state oil company Aramco, which raised $29.4 billion when it issued shares on the Riyadh exchange last December.

The share issue is a boon for Beijing, which has been encouraging the country's top tech companies to list at home instead of on exchanges in the United States, where scrutiny of Chinese companies is rising as a long-running trade war rumbles on.

Beijing hopes the company's decision to sell 1.67 billion shares in both Hong Kong and Shanghai, or about 11% of the company in total, will attract the seasoned institutional investors it has long courted. If the price of shares is any indication, that strategy appears to be working.

“蚂蚁”擎起全球最大IPO

10月26日晚,蚂蚁集团披露的发行定价公告称,此次A股发行价格确定为68.8元/股,H股发行价确定为80港元/股(汇率换算后为68.85元/股)。按此价格及绿鞋行使前发行后300亿总股本计算,蚂蚁集团总市值约2.1万亿元,上市后有望超过贵州茅台居A股市值首位。

蚂蚁集团将在A股和H股各发行不超过16.7亿股的新股(绿鞋前),按此计算,蚂蚁集团募资规模约344亿美元,超过沙特阿美290亿美元IPO规模,成为全球历史上最大规模IPO。

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