Ant Group IPO-linked Chinese funds to return $9bn to investors


Source: nikkei.com nikkei.com

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Ant Group and others involved in the canceled listing are unwinding what could have been the world's largest initial public offering after the deal was pulled on Nov. 3. © Reuters NIKKI SUN and NARAYANAN SOMASUNDARAM, Nikkei staff writers November 20, 2020 18:33 JST | China Copy Copied HONG KONG -- Chinese funds that raised more than 60 billion yuan ($9.12 billion) targeting Ant Group's now-suspended initial public offering, which had been expected to raise up to $39.6 billion, are offering full refunds to the more than 10 million individual retail investors who had sought a piece of the IPO....