Expected Subscription Allocation Rate 0.13%... 1 Share Allocated for 1000 Shares Applied
Results of Hong Kong Exchange General Subscription Application to Be Released Soon
[Asia Economy Beijing=Special Correspondent Jo Young-shin] Alibaba's fintech affiliate Ant Group attracted a large number of Chinese retail investors in its public offering.
According to Caixin on the 30th, Ant Group announced the previous day that 5,155,600 people participated in the internet general subscription on the Shanghai Science and Technology Innovation Board (STAR Market). The total number of shares subscribed was 276.9 billion.
Due to the hot demand for internet subscription applications, Ant Group even converted part of the offline public offering volume into internet public offering targets.
As a result, the internet general public offering volume slightly increased to 351 million shares, accounting for 18.26% of the total issuance on the Science and Technology Innovation Board, but the expected subscription allocation rate remained at only 0.13%. This means that even if one applies for 1,000 shares, on average only one share will be allocated.
The general subscription application simultaneously underway on the Hong Kong Stock Exchange also concluded on the 30th, and the results are expected to be announced.
Ant Group is in the process of issuing 1.67 billion shares each on the Shanghai Science and Technology Innovation Board and the Hong Kong Stock Exchange.
The public offering price per share was set at 68.8 yuan (KRW 11,600) and 80 Hong Kong dollars, respectively.
Through this simultaneous listing in Shanghai and Hong Kong, Ant Group will raise approximately $31.8 billion (KRW 35.98 trillion), making it the largest initial public offering in the world.
This far surpasses the previous record of $29.4 billion set by Saudi Arabia's state-owned oil company Aramco in December last year.
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