Zero Hedge — "This Is Huge": World's Biggest IPO Trades 50% Higher In Gray Market After $3 Trillion In Retail Orders

Demand for Hong Kong shares was so strong that Ant stopped taking orders from professional investors a day earlier than scheduled. Institutions and strategic investors may take up about 97.5% of the offering in Hong Kong, according to Ant’s prospectus, though the figures may change due to clawback and greenshoe provisions.

Putting these numbers in context, last Thursday, the Chinese financial-technology giant said individual investors in mainland China had placed the equivalent of more than $2.8 trillion of orders for their slice of Ant’s record-breaking initial public offering, which is listing simultaneously in Shanghai and Hong Kong....

Zero Hedge
"This Is Huge": World's Biggest IPO Trades 50% Higher In Gray Market After $3 Trillion In Retail Orders
Tyler Durden