Exclusive: Ant Group's Shanghai IPO gets bids in 68-69 yuan/share range, say sources

By Reuters

Some large Chinese fund managers have submitted bids in the range of 68-69 yuan per share for the Shanghai leg of the financial technology giant Ant Group's likely $35 billion dual-listing, people with direct knowledge of the matter said. Many of them have bid for the Ant shares for the domestic listing at the Nasdaq-style STAR Market in Shanghai at close to 69 yuan ($10.32) apiece, one of the sources said. The expected $35 billion listing in Hong Kong and Shanghai of Ant, backed by e-commerce behemoth Alibaba, would be the world's largest IPO, beating Saudi Aramco's record $29.4 billion float last December.

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