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Company News

Ant's Hong Kong leg of $34.4 bln dual-listing oversubscribed, sources say

HONG KONG, Oct 26 (Reuters) - Ant Group, which is raising up to $34.4 billion in what would be the world’s largest market debut, has seen order books for the Hong Kong leg oversubscribed one hour after launch on Monday, people with knowledge of the matter said.

The fintech group, which set the price tag for the Hong Kong leg of the listing at HK$80 ($10.32) per share, is selling 1.67 billion shares in the city to raise $17.24 billion, its filing showed.

Late on Monday, Ant opened order books on the Hong Kong float to institutional investors, many of which rushed to place orders, hoping for a sizeable allocation, the people with direct knowledge of the matter said.

Ant did not immediately respond to a request for comment. (Reporting by Julie Zhu; Editing by Sumeet Chatterjee and Jane Merriman)

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