Funds raise 10 billion dollars for the “Ant Group” IPO

Last updated: Sunday 23 صفر 1442 هـ – October 11, 2020 KSA 14:37 – GMT 11:37
Publication date: Sunday 23 صفر 1442 هـ – October 11, 2020 KSA 14:27 – GMT 11:27Source: – Arabia.net

Five investment funds raised about ten billion dollars within a few days, with the aim of injecting them into the upcoming Ant Group IPO this October, despite US President ’s threats to impose sanctions on the company.

About ten million investors have poured money through the digital platform Alipay into the five investment funds that were launched two weeks ago, aiming to invest 10% of their assets in Ant Group shares.

The affiliate of the “Alibaba Group” is seeking to raise $ 35 billion through its dual listing of the Hong Kong and STAR Market in Shanghai.

It is expected to be the largest global IPO ever.

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