SHANGHAI, Oct 9 — Five newly launched Chinese funds targeting Ant Group's upcoming mega stock listing raised 60 billion yuan (RM37 billion) cumulatively from more than 10 million retail investors, selling out within days, the funds' distributor said. An average of eight investors placed orders...
Friday, 09 Oct 2020 12:41 PM MYT
An average of eight investors placed orders each second during the subscription period, highlighting retail frenzy over Ant's initial public offering despite possible US sanctions against the Chinese fintech giant. The five funds launched on September 25 to raise 12 billion yuan each and invest up to 10 per cent of their assets to buy Ant's IPO shares as strategic investors.
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