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Ant Group sets share price for Shanghai listing

By He Wei in Shanghai | chinadaily.com.cn | Updated: 2020-10-26 21:34
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Ant Group set the price at 68.8 yuan ($10.27) per share for the Shanghai tranche of its dual share-floating plan, the company said in a filing to the Shanghai Stock Exchange on Monday.

The financial technology giant is set to raise some 115 billion yuan ($17.15 billion) from the Shanghai leg of the concurrent listing (with Hong Kong being another bourse), one step closer to securing the biggest initial public offering in China.

And this has not taken into account the up to 15 percent more shares eligible to be purchased by its underwriters, known as a greenshoe.

Ant also set the price for the Hong Kong part of the listing at HK$80 ($10.32) per share. That roughly translates to similar sums of capital set to be raised from Shanghai.

The amount is also due to eclipse the $29.4 billion of shares by Saudi Aramco, in what is to date the largest-ever IPO worldwide.

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