Ant Group raises $34.4 billion in the biggest IPO of all time
Chinese fintech giant Ant Group raises $34.4 billion in its dual initial public offering, making it the biggest listing of all time. Deirdre Bosa joins 'Closing Bell' to discuss.
Ant Group would raise $34.5 billion in its dual initial public offering after setting the price for its shares on Monday, making it the biggest listing of all time.
The Chinese financial technology giant previously said it would split its stock issuance equally across Shanghai and Hong Kong, issuing 1.67 billion new shares in each location.
Ant Group?s Shanghai-listed shares will be priced at 68.8 yuan each. The issuing of 1.67 billion shares would raise 114.94 billion yuan or $17.23 billion, according to the exchange rate listed in the official filings.