A “fear of missing out” is prompting a scramble to take part in Ant Group’s upcoming initial public offering in Hong Kong and Shanghai, which is shaping up to be one of the world’s largest ever equity raisings.
The Chinese technology company’s dual offering could come as early as next month. Ant should face the Hong Kong listing committee by the middle of next week, people familiar with the matter said, after winning approval from regulators in Shanghai last week. The company is expected to offer at least 10 per cent of its shares and secure an overall market valuation of between $200bn and $300bn.
Nick Xiao, chief executive of Chinese wealth manager Hywin Wealth’s international business in Hong Kong, said he had seen a surge in “Fomo-related” investor demand, including to b