The IPO of Alibaba’s fintech company Ant Group has received a strong response. The listing of both Hong Kong and Shanghai has seen a bidding of 30 lakh crore ($ 3 trillion). How much this amount is, it can be estimated from this that it is more than the GDP of India. Trading of shares of this company, owned by Jack Ma, can begin on November 5 next month on the stock exchanges of Hong Kong and Shanghai. Ant Financial plans to raise 2.54 lakh crore ($ 34.4 billion)
Brokerage platform crashes
According to Bloomberg’s report, people were so excited about the bidding of Ant Group’s IPO that only one brokerage platform crashed. Book building in Hong Kong listings takes place from Monday to Friday while Shanghai Shares was open one day on Thursday.
Special things related to Ant Group IPO
- With a market capital of 23.5 lakh crore ($ 315 billion), the Ant Group has more value than Egypt (22.6 lakh crore) and Finland (20.1 lakh crore). The company’s YAG IPO is the largest in history so far. Earlier this record was in the name of Saudi Arabian state oil company Aramco. Aramco’s IPO was worth 2.2 lakh crore rupees ($ 29.4 billion). Before that Alibaba’s IPO was 1.9 lakh crore rupees ($ 25 billion) which came in 2014.
- According to Bloomberg report, the market value of Ant Group is higher than JPMorgan Chase & Co. and Bank of America. Apart from this, it is more than Pay Paul (Rs 17.8 lakh) and Walt Disney Company (Rs 17.3 lakh). The company is three times larger than IBM and four times larger than the Goldman Sox Group.
- Public listing of Ant Financial has received such a strong response that now Jack Ma, Alibaba’s co-founder, has become the 11th richest person in the world. Ma started Alibaba with an investment of about 45 lakh rupees (60 thousand dollars). Ma is its largest shareholder with 8.8 per cent stake in Ant Group. On the basis of stock pricing in Hong Kong and Shanghai, his worth in this company is about Rs 2 lakh crore ($ 27.4 billion), after which Ma’s worth will be 5.3 lakh crore ($ 71.6 billion) in the Bloomberg Billionaires Index.
- According to the Shanghai filing, Institutional Investors made an order for 7600 million shares in Ant’s IPO, 284 times more than the initial offer. According to Bloomberg’s report, brokers were willing to give 20 times the amount of their investment to individual investors.
- Jack Ma is a big fan of number 8, which is considered a symbol of prosperity in China. Apart from this, number 6 in China is also considered lucky. The company’s shares were priced at 68.8 yuan (Rs 766.51) in Shanghai and 80 Hong Kong dollars (Rs 769.18) in Hong Kong.