Local funds targeting Ant IPO rake in $9bn from over ten million investors

article author: 
Author: 
Sat, 2020-10-10 03:06

SHANGHAI: Five newly launched Chinese funds targeting Ant Group’s upcoming mega stock listing raised 60 billion yuan ($8.93 billion) cumulatively from more than 10 million retail investors, selling out within days, the funds’ distributor said.
An average of eight investors placed orders each second during the subscription period, highlighting retail frenzy over Ant’s initial public offering (IPO) despite possible US sanctions against the Chinese fintech giant.

Main category: 
Tags: 

Leave a Reply

Your email address will not be published.