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China funds targeting Ant IPO rake in $9 billion from over 10 million investors

October 9, 2020

SHANGHAI (Reuters) – 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.

graphical user interface, text, application, qr code: FILE PHOTO: Alipay logo is pictured at the Shanghai office of Alipay, owned by Ant Group which is an affiliate of Chinese e-commerce giant Alibaba, in Shanghai

© Reuters/ALY SONG
FILE PHOTO: Alipay logo is pictured at the Shanghai office of Alipay, owned by Ant Group which is an affiliate of Chinese e-commerce giant Alibaba, in Shanghai

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 U.S. sanctions against the Chinese fintech giant.

The rush also underscores the marketing clout of Ant’s online payment platform Alipay, the sole third-party distributor of the five mutual funds that threatens to disrupt traditional fund sales models.

Ant , Alibaba Group’s fintech arm, aims to raise about $35 billion in a dual listing in Hong Kong and Shanghai’s STAR

China funds targeting Ant IPO rake in $9 bln from over 10 mln investors

October 9, 2020

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SHANGHAI, Oct 9 (Reuters) – 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.

Ant IPO-ANTG.HK, Alibaba Group’s BABA.N fintech arm, aims to raise about $35 billion in a dual listing in Hong Kong and Shanghai’s STAR Market, expected in October, in what could become the world’s largest IPO.

The five funds launched on September 25 to raise 12 billion yuan each and

Ant Group’s $35 Billion IPO Unlikely to Be Hurt by Possible U.S. Curbs, Analysts Say | Investing News

October 8, 2020

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By Scott Murdoch and Julie Zhu

HONG KONG (Reuters) – Ant Group’s $35 billion initial public offering (IPO) is unlikely to suffer from any U.S. restrictions on the Chinese financial technology giant due to its very limited overseas presence, potential investors and analysts said.

U.S. President Donald Trump is considering curbs on Ant, an affiliate of Chinese e-commerce firm Alibaba

, and Tencent <0700.HK> over concerns their payment platforms threaten national security, Bloomberg News reported on Wednesday.

If implemented, the restrictions would illustrate how Trump’s administration is seeking to prevent Chinese companies from embedding themselves in the U.S. financial system before they become a significant competitive threat.

Ant said it was not aware of any discussions within the administration about restrictions. Tencent and the White House did not immediately respond to requests for comment.

Ant is working towards a dual-listing in Shanghai and Hong Kong possibly as soon as this

White House Curbs on Chinese Payment Apps Pose Risk to Ant

October 8, 2020

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(Bloomberg) — The Trump administration’s potential restrictions on two Chinese payments giants would reverberate far beyond politics, potentially affecting multibillion-dollar deals, shaking up international commerce and even shaping the evolution of the global financial system.

a person sitting on display in a store: An advertisement for Tencent Holdings Ltd.'s WeChat Pay digital payment service is displayed outside a restaurant in Hong Kong, China, on Tuesday, Sept. 1, 2020. WeChat Pay and Ant Group's Alipay account for the majority of the mobile payments transactions in China.

© Bloomberg
An advertisement for Tencent Holdings Ltd.’s WeChat Pay digital payment service is displayed outside a restaurant in Hong Kong, China, on Tuesday, Sept. 1, 2020. WeChat Pay and Ant Group’s Alipay account for the majority of the mobile payments transactions in China.

U.S. officials have stepped up behind-the-scenes talks in recent weeks about possibly restricting the expansion of Ant Group’s Alipay and Tencent Holdings Ltd.’s WeChat Pay over concerns that the digital payment platforms threaten national security, Bloomberg reported on Wednesday.

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Read more: U.S. explores curbs on Ant Group, Tencent payment systems

If the administration proceeds, the most immediate hit would be to Ant Group’s plan for a stock listing in

How Ant Group plans to pull-off world’s largest ever dual IPO in Hong Kong and Shanghai amid coronavirus pandemic

October 3, 2020

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Ant Group and its advisers are getting creative as they attempt to score the world’s largest initial public offering amid a coronavirus pandemic as well as a first-of-its-kind simultaneous listing in Hong Kong and Shanghai.

Known for upending the financial industry across China with its easy-to-use payments app Alipay, the unicorn is now bringing its innovative culture to bear on capital-markets challenges such as meshing together the regulatory timetables and securities’ settlement cycles of two exchanges.

These are ultimately logistical and technical problems for Ant to crack or plan around as it steadily moves forward with its jumbo IPO. China’s regulators remain keen to help a national technology champion secure funding for growth, and investors are clamouring to own its shares.

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Ant’s solutions to the problems it encounters will smooth the path

INSIGHT-Secrecy and speed: Inside Ant Group’s unusual IPO process

October 1, 2020

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By Kane Wu, Julie Zhu and Scott Murdoch

HONG KONG, Oct 2 (Reuters) – Ahead of what’s likely to be the world’s largest initial public offering, China’s Ant Group Co Ltd is asking lead bankers to personally sign confidentiality pacts and pressing some investors to explain why they should be allowed to attend marketing meetings, sources familiar with the matter said.

In doing so, Ant is following a highly unusual process that draws on some of the tactics its former parent and affiliate Alibaba Group Holding Ltd BABA.N previously used.

Other unique measures taken by Ant include dividing up the underwriting work for what could be a $35 billion offering among several banks such that no one firm has the full picture of the process, four sources with direct knowledge of the matter said.

Three of the sources said the main underwriters are also discouraged from working on assignments

Chinese Investors Flock to Newly-Launched Funds Targeting Ant IPO | Investing News

September 28, 2020

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SHANGHAI (Reuters) – Chinese investors are pouring into newly-launched mutual funds targeting Ant Group’s upcoming initial public offering, underscoring strong demand for technology shares at a time when Chinese tech firms are facing increasing U.S. scrutiny.

Alibaba Group’s

fintech arm Ant Group aims to raise about $35 billion in a dual listing in Hong Kong and Shanghai’s STAR Market, expected in October, in what could become the world’s largest IPO.

Two of the five new funds launched on Friday to give Chinese retail investors access to strategic stakes in Ant’s IPO had already reached their fundraising target and stopped accepting new investments, their fund managers said.

The five funds are targeting a combined 60 billion yuan ($8.80 billion), with each fund aiming to raise up to 12 billion yuan over a two-week subscription period.

The early interest shows appetite for Chinese tech shares remains strong despite recent stock market corrections.

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