Ant squashes some Asian investment bankers

📆 26/08/2020 10:08:00
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Ant’s $20 bln IPO is set to shake up league tables. Citi gets a lift as an unexpected sponsor. Credit Suisse and Goldman are sidelined. In a region so dependent on equities fees, more than just egos will be bruised, says JennHughes13:

Chinese fintech giant Ant submitted documents on Aug. 25 for an initial public offering in Hong Kong and Shanghai.

It is expected to raise at least $20 billion, according to unnamed sources. Banks sponsoring the Hong Kong listing are Citigroup, JPMorgan, Morgan Stanley and China International Capital Corp.

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