Ant Group (Ant Group) raised $34.5 billion in the largest dual-market IPO in history | BRIDGE technology and startup information

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CNBC reported that Ant Group (Ant Group) set its share price on the 29th to raise $34.5 billion in a repeat listing (in Shanghai and Hong Kong), which will be the largest listing in history.

Ant Group will raise 133.6 billion Hong Kong dollars (1.8 trillion yen) by issuing 1.67 billion new shares at 80 Hong Kong dollars (1,080 yen) each in Hong Kong and 114.9 billion yuan (1.8 trillion yen) by selling the same amount of shares in Shanghai at 68.8 yuan (1070 yen) each. Based on pricing, Ant Group is valued at $313 billion.

According to Ant Group, Saudi Aramco will raise more than $29 billion, which will be the largest IPO in history.

Ant Group is scheduled to start trading in Hong Kong on Nov. 5, but gave no details of the Shanghai listing. In addition, Singapore government funds GIC and Temasek Holdings will participate in share acquisitions when they are listed on both markets.

Alibaba (Alibaba) has reached an agreement to buy 700m A shares through its subsidiary Zhejiang Tmall Technology (Zhejiang Tmall Technology), allowing Alibaba to maintain an estimated 33 per cent stake in Ant Group.

Ant Group will pay up to $198 million to banks that sell shares in Hong Kong as subscription fees.

Other Chinese technology companies such as NetEase (NetEase) and JD.com (JD.com) have raised billions of dollars by listing on the Hong Kong stock exchange.

[via Techin Asia] @ Techinasia

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