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Jack Ma owned Ant Group’s IPO hits orders worth $3 trillion in retail demand

If you don’t already know this, Ant Group is an affiliate of Jack Ma’s Alibaba Group. Ant Group is one of the most valued Financial Technological Company in the world which was previously known as Ant Financial and Alipay. The current valuation of the company is USD 280 billion and is one of the world’s most valued Unicorn Start-up.

Recently, in retail bidding, Ant Group Company was successful in occupying orders from investors worth USD 3 trillion for their dual listing in Shanghai and Hong Kong. $3 trillion is enough for the company to buy out JPMorgan Chase and Company and still be left with 90% of their total money, according to analysts.

Credits: https://rb.gy/b9dmhf

Sources also reported that one bidder was so intensely attacked by the number of orders that his platform crashed temporarily. In addition to this, as a matter of fact, 900 times more initial supply was demanded for the retail sector in Shanghai which is phenomenal and a significant factor in concluding with the final amount.

It has been allegedly confirmed that Ant Groups will start their trading on 5th November and the speculations around the event urge risky factors like the United States elections, COVID-19 situation and China’s stringent regulations.

China is under threat of the American financial sanctions and a win for Beijing could reduce the risk factor significantly. China’s representative and huge financial tech company Behemoth’s IPO which is worth USD 35 billion and counting has backed a company which is speculated to revolutionise global finance in the world. So, even if Ant Group does not prevail, the ball is in China’s court.

Credits: https://rb.gy/keepes

Let us study an example of how intense the bidding session of Ant Group was that within minutes of going live, all shares were sold.

A developer who was amongst a thousand others was hoping to get his shares from Ant’s generously tight offerings. He acted as a broker for a few clients and as the bets went live, he clicked multiple times within seconds to boost his bets to get Ant’s shares which were being handed on the first-come, first-serve basis.

As soon as the IPO went live, he claims to refresh his page multiple times in seconds and was able to order Ant’s shares worth USD 7, 40,321 which was approximately 85% more than his current share market standing. He further claims that the quota was finished within minutes of going live.

Credits: https://rb.gy/9kkhln

Analysts speculate that Ant can hike up approximately 40%-50% on the first day of their trading as the performance of Ant Group in the market is highly valuable.

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