HONG KONG/SHANGHAI: Some large Chinese fund managers have submitted bids in the range of 68-69 yuan per share for the Shanghai leg of the financial technology giant Ant Group's likely US$35 billion dual-listing, people with direct knowledge of the matter said.
Many of them have bid for the Ant shares for the domestic listing at the Nasdaq-style STAR Market in Shanghai at close to 69 yuan apiece, one of the sources said.Under the local market rules, the final price for the initial public offering , which was decided on Friday but has not been disclosed yet, is based on the guidance from the large investors.
The expected US$35 billion listing in Hong Kong and Shanghai of Ant, backed by e-commerce behemoth Alibaba , would be the world's largest IPO, beating Saudi Aramco's record US$29.4 billion float last December.Ant declined to comment.
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