Ant Group IPO Gets Bids Equal To UK GDP

Ant Group IPO gets bids equal to UK GDP, may be listed on 5 November. There is a strong enthusiasm among investors regarding the world’s largest Initial Public Issue (IPO).

The IPO of the Ant Group of China has received bids at par with the UK economy. Ant is a financial technology company affiliated with the Chinese e-commerce group Alibaba.

Ant has applied for listing on the Hong Kong and Shanghai Stock Exchange.

The group’s IPO has received $ 3 trillion bids from individual investors for dual listing in Hong Kong and Shanghai. This is equivalent to last year’s GDP of the UK.

According to news agency Bloomberg, the bidding in Hong Kong was so high that a brokerage platform had to be closed for some time. There were huge bids here.

Talking about Shanghai, the demand in the retail category here was 870 times more than the supply.

Looking at the huge bids, experts now say that all buyers cannot be allocated shares in this $ 34 billion IPO.

There is tremendous enthusiasm among investors regarding this IPO. Ant may be listed on the exchanges on November 5.

Investors are eagerly awaiting this listing. They believe that investors will have bumper profits at the time of listing.

Ant Group of China operates a wide range of financial products. These products also include Alipay Digital Wallet of China. It is one of the largest money market funds in the world.

Earlier, world oil major Saudi Aramco offered a share sale of $ 29 billion. The Ant Group has a total value of a minimum of $ 150 billion. Alibaba Group has a 33 percent stake in Ant.

The market again touched 11,900 before a sharp drop due to global lockdowns and US elections. But we think it was for the monthly expiry. The market witnessed a significant decline this week.

Despite this, there was no cause for concern for the investors, as the mid-cap, where the general public invests, did not see a big decline.

This week, the Nifty fell to the level of 11500, then recovered to 11600. The Dow also had some influence on the decline of the Nifty.