Yield on 1-Day Government Bond 1.10% versus 1.20% yesterday, Yield on 10-Year Government Bond 3.20% versus 3.17% yesterday, Yield on 10-Year China Development Bank Bond 3.75% versus 3.73% yesterday. Although the company's IPO date hasn't been set, it could happen in the next few months. The company will sell up to 1.67 billion shares on each exchange, which will account for 11% of total outstanding shares post-IPO. Jack Ma, the founder of Alibaba says the dual IPO (initial public offering) listings of the company Ant Group in Shanghai and Hong Kong would soon break the world record to become the biggest in history. Krane Funds Advisors, LLC is majority owned by China International Capital Corporation (CICC). I am the Chief Investment Officer of KraneShares, a China-focused provider of exchange-traded funds (ETFs). Alipay is China’s largest mobile payments business operated by Ant Group. One of strangest sub-plots of the whole affair is how close Ant came to getting its IPO over the line at an elevated valuation. Ant Group plans to raise about $30 billion in an IPO. Shares on the Hong Kong Stock Exchange will … Asian equities posted modest gains today and for the week while Mainland China underperformed. HONG KONG — China suspended Ant Group’s $37 billion stock market listing on Tuesday, thwarting the world’s largest IPO with just days to go, in a dramatic move that left investors and bankers scrambling for answers. Article content. September and Q3 economic data was released Monday. Chatter is that the IPO could happen as soon as late next week. This meant the Ant Financial IPO would be the biggest to date, set to raise $34.4 billion. I am the Chief Investment Officer of KraneShares, a China-focused provider of exchange-traded funds (ETFs). It’s also accelerated a shift that was already underway to tighten supervision over IPO applications. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. Oct 30, 2020 • Last Updated 28 days ago • 3 minute read HONG KONG — Retail investors placed bids for a record $3 trillion of shares in Ant Group Co Ltd’s initial public offering (IPO), set to be the world’s biggest, as mom-and-pop savers bet on demand for its financial services in China. China All Shares fell -0.21% overall. Northbound Stock Connect was closed today due to Hong Kong’s holiday Monday as foreign investors sold $2.1 billion worth of Mainland equities, bringing the YTD total to … All content of the Dow Jones branded indices Copyright S&P Dow Jones Indices LLC 2018 and/or its affiliates. Its payments app Alipay had 731 million monthly active users as of September, Ant said in regulatory filings. It's is difficult to predict the IPO listing price. Volume was up +3%, placing it below the 1-year average while breadth was off with 760 advancers and 2,953 decliners. TikTok's US ban is on hold. But just 36 hours before the ceremonial gong at the Hong Kong Stock Exchange was set to be banged for what would have been a record-setting listing, Beijing abruptly pulled the rug from underneath it. Do not get me started on the sorry state of New York sports! In the long run, that could benefit China, directing money to its markets as investors rush to snap up Ant shares. The listing is expected to set a new world record, surpassing the $29.4 billion float by Saudi Aramco's IPO last December. However, the company hasn't picked a firm date for its public listing. Hong Kong volume leaders overnight included Ping An Insurance, which gained +2.31% on news that online lender Lufax Holdings, in which the company had invested, will pursue an IPO on the NYSE. CHA About a week later, Ant priced its shares at $10.32 and $10.26, respectively. The rest of the volume leaders were Alibaba HK, which fell -0.67%, Tencent, which fell -0.35%, Meituan Dianping, which fell -2.45%, BYD, which cratered -6.66%, HSBC, which gained +3.2%, Xiaomi, which fell -2.24%, China Construction Bank, which gained +0.17%, and ICBC Bank, which gained +1.27%. What comes next. Ant Group’s listing in Hong Kong likely won’t be completed by the end of October, as originally hoped, due to scrutiny from Chinese regulators. Ant Group Co. has set the price for its initial public offering in Shanghai, paving the way for a blockbuster sale that may give the Chinese fintech giant a valuation higher than JPMorgan Chase & Co. All rights reserved. The company shunned Wall Street for its public debut, even though Ma chose the New York Stock Exchange for Alibaba's record shattering IPO in 2014. Disclaimer. Ant will announce the IPO's share price on October 27, according to updated regulatory filings. Meanwhile, health care -2.02%, discretionary -2.02%, materials -1.62%, tech -1.52%, stales -1.18% and communication -0.2%. Our suite of China focused ETFs provide investors with solutions to capture China's importance as an essential element of a well-designed investment portfolio. This was based on the price of its shares on Monday. All rights reserved. EY & Citi On The Importance Of Resilience And Innovation, How Digital Workflows Helped Save Basketball During The Pandemic, Impact 50: Investors Seeking Profit — And Pushing For Change, Michigan Economic Development Corporation With Forbes Insights. Alibaba’s listing, which raised US$25 billion, was the biggest IPO ever at the time. Summary: In an IPO market that is to date nothing short of exuberant, the biggest this year is yet to come. The 204 Chinese stocks listed in the Mainland were off -0.21% as energy +5.91%, financials +1.28%, and utilities +0.29%. These days, rising geopolitical tensions have made Chinese companies wary of Wall Street. Ant Group hasn't priced its stock for the coming IPO yet. NOT since the listing of Chinese ­e-commerce giant Alibaba Group Holding six years ago has an initial public offering generated as much buzz as next week’s listing of Ant Group. MSCI The abrupt suspension of fintech giant Ant Group Co. Ltd.’s record-breaking IPO in November has fueled debate about the shortcomings of the new system for evaluating and approving listings on Chinese mainland stock markets. All Rights Reserved. The big news was the green light for Ant Group’s Hong Kong IPO from the local regulators as speculation on the listing date is either the first or second week of November. Ant Group aims to create the infrastructure and platform to support the digital transformation of the service industry. Stock exchanges in India publish IPO listing status through a listing notice. We help investors stay up to date on global market trends and aim to provide meaningful diversification. The shares are due to start trading in Hong Kong on November 5. The Hang Seng Index overcame morning losses to gain +0.54% as it climbs toward the 25k level though the broader Hang Seng Composite was off -0.08% and the Chinese companies listed in Hong Kong within the MSCI Ant Group's highly anticipated IPO has been suspended following a meeting between the company's billionaire co-founder Jack Ma and regulators in … Along with the Lufax IPO filing, I have a lot of reading to do this weekend! As of Tuesday, CNY has gained 6.76% against the US dollar since its May 27th high of 7.16 per dollar, closing Tuesday at 6.68. The company was approved for both the Hong Kong Stock Exchange and Shanghai’s Star Market. Of its shares at $ 10.32 and $ 10.26, respectively has been the best performing in Asia far... 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