Ant Group Co Ltd on Monday set the price tag for the Shanghai leg of its record-breaking dual-listing at 68.8 yuan ($10.27) per share, the Chinese fintech company said in a stock exchange filing.
FILE PHOTO: Ant Group 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, China September 14, 2020. REUTERS/Aly Songon Monday set the price tag for the Shanghai leg of its record-breaking dual-listing at 68.8 yuan per share, the Chinese fintech company said in a stock exchange filing.
Ant is set to raise 114.9 billion yuan from the Shanghai part of its dual-listing, which is set to be the biggest initial public offering in China, eclipsing Agricultural Bank of China's, also set the price for the Hong Kong tranche at HK$80 per share on Monday, according to its prospectus filed with the city's stock exchange.
The dual Shanghai/Hong Kong listing, estimated to reach $34 billion, would beat the previous largest IPO, Saudi Aramco'sAnt aims to split the share sale evenly between Hong Kong and Shanghai, selling 1.67 billion shares on each exchange, which represents a combined 11% of its enlarged share capital.Our Standards:
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