Ant Community closes Hong Kong book early ensuing from solid build a query to of for its file twin IPO

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Ant Community closes Hong Kong book early ensuing from solid build a query to of for its file twin IPO

GUANGZHOU, China — Ant Community will shut its Hong Kong institutional book constructing job a day earlier than expected ensuing from solid build a query to of for its file preliminary public offering (IPO), a particular person acquainted with the matter told CNBC.

The Chinese language financial technology broad is accomplishing a twin itemizing in Shanghai and Hong Kong, issuing an equal quantity of newest shares in every plan.

Ant Community’s itemizing will expand a entire of just beneath $34.5 billion, making it the supreme IPO of all time. The Hong Kong portion will expand spherical $17.24 billion, ahead of a so-known as overallotment option is exercised.

Of the Hong Kong shares issued, 97.5% will high-tail to institutional merchants.

Per the source, who changed into once no longer authorized to communicate publicly, the book constructing will now shut at 5 p.m. Hong Kong time on Wednesday, in preference to Thursday at 5 p.m. as expected.

A book constructing job is a duration at some stage in which merchants trace their interest in an IPO, and post the amount of shares and price they ought to subscribe to. If build a query to of is high, the book would possibly even be closed early.

Ant Community declined to comment when contacted by CNBC.

Ant Community priced its Shanghai-listed shares at 68.8 yuan every and its Hong Kong shares at 80 Hong Kong dollars.

The company’s Hong Kong shares are slated to launch trading on Nov. 5 with the Shanghai portion expected on the identical time.

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