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Thursday, 10/22/2020 8:39:19 AM

Thursday, October 22, 2020 8:39:19 AM

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Alibaba Will Buy a Fifth of Shares in Ant Group’s Mega IPO

Asia’s largest corporation will buy 730 million of about 1.67 billion Shanghai-listed A shares as part of a placement to strategic investors, the e-commerce giant said in a stock exchange filing. Including the Hong Kong tranche of its IPO, Ant intends to sell a total of 3.3 billion shares. In addition, the financial services giant plans to issue about 1.16 billion Hong Kong-listed or H shares to Alibaba, part of a distribution of about 3.26 billion shares to existing backers

The Chinese e-commerce giant will hold about 32% of its affiliate’s shares after the IPO, based on data compiled by Bloomberg.

https://finance.yahoo.com/news/alibaba-buy-fifth-shares-ant-034404554.html
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