News Snapshot:
The blockbuster Shanghai debut of Jack Ma’s Ant Group Co. will push the value of new stocks in China to a record this year. Ant Group -- which is also selling shares in Hong Kong -- is seeking to raise about 114.9 billion yuan ($17.1 billion) from the mainland leg of its initial public offering. That’s even before it opts to exercise a so-called greenshoe option, which would allow the firm to sell more stocks. Ant Group’s Shanghai listing will beat the previous record held by Agricultural Bank of China Ltd.’s 68.5 billion yuan debut in 2010. The fintech giant’s...
