Banks, brokers to offer record US$38.7 billion of margin financing for Hong Kong retail investors to buy into Antࢀ™s giant IPO

HSBC plans to lend HK$100 billion, while brokerage Bright Smart will lend HK$50 billion, making them the top two lenders for investors to subscribe to Ant Groupࢀ™s IPO this week Banks and brokers are waiving fees, offering low interest rates and accept clients with high leverage as they compete for customers who want to invest in the hottest IPO in decades Antࢀ™s IPO which is on course to smash all previous IPO records is expected to lock up funding of HK$800 billion, higher than Nongfu Spring at HK$677 billion, brokers estimate. Hong Kongࢀ™s banks and brokers are offering record margin…