The IPO registration of ant group has been approved by China Securities Regulatory Commission, and its valuation may exceed 1.7 trillion yuan

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 The IPO registration of ant group has been approved by China Securities Regulatory Commission, and its valuation may exceed 1.7 trillion yuan


Ant group, which is seeking a + H synchronous listing, has formally crossed the last threshold of landing on the science and technology innovation board.

On October 21, the China Securities Regulatory Commission (CSRC) issued a document saying that recently, in accordance with legal procedures, the SFC approved the registration of the following enterprises initial public offering of shares on the science and Technology Innovation Board: ant Technology Group Co., Ltd. The above-mentioned enterprises and their Underwriters will negotiate with the Shanghai Stock Exchange to determine the issuance schedule and publish the offering documents.

This means that ant group has completed the registration procedures at the level of CSRC, and is about to launch the procedures such as issuing inquiry. According to the issuance process of the science and technology innovation board, after the completion of registration, the enterprise usually has to go through several issuance links, such as roadshow, inquiry, online and offline issuance and purchase, and the whole issuance process needs at least 10 trading days.

Ant group is expected to become the largest IPO this year, and many securities companies have estimated its value. Guoxin Securities through the absolute valuation method and the relative valuation method, the valuation range is 1.7 trillion to 2.5 trillion yuan. The Morningstar Stock Research Report valued ant group at HK $2.45 trillion (equivalent to RMB 2.1 trillion).

On the progress of Hong Kong stock listing, ant group applied for listing in Hong Kong on October 16, which was approved by China Securities Regulatory Commission.

Three months ago, on July 20, ant group officially announced its a + H listing plan, seeking simultaneous listing on the sci tech Innovation Board of Shanghai Stock Exchange and the main board of the stock exchange of Hong Kong Limited.

In the process of listing on the science and technology innovation board, the Shanghai stock exchange accepted the listing application of ant group on the science and technology innovation board on August 25, and then inquired the ants about relevant issues. According to the reply to the inquiry letter published on September 7, ant was asked a total of 6 categories of 21 questions, covering the ownership structure of the issuer and the basic information of directors, supervisors and senior management, the business of the issuer, corporate governance and independence, financial and accounting information and management analysis, major event tips and risk factors. On September 9, the Shanghai Stock Exchange disclosed ants reply to the second round of inquiry. The 32 page reply submitted by ant included five questions, such as regulatory policy and market competition. On September 18, ant group successfully held the meeting. From August 25 to the meeting, ant group only took 25 days. On September 22, the Shanghai Stock Exchange disclosed the reply of ant group and its sponsor institutions to the letter of implementing the opinions of the municipal Party committee meeting. Late in the night of the same day, ant group submitted for registration. On October 20, we got the approval from the CSRC.

Last week, the original smooth ant group listing plan delayed the news of fermentation. In response, a spokesman for ant group has said that the listing process of ants is progressing orderly in both places, and there is no preset timetable, and any speculation about the timetable is not based on facts.

Subsequently, Reuters reported that the SFC is investigating the possible conflicts of interest in the ant group listing plan. Alipay, an ant group, is the only third party channel for retail investors to invest in 5 ant battle funds, and the Commission is investigating the role of Alipay in this matter. In response, ant said details of the strategic placement fund had been fully disclosed and it had not underwritten its own IPO. As a strategic investor, the fund participated in the initial public offering of ant group, which has been operated independently by the fund company. According to the prospectus, the total number of new shares issued in the A-share issuance and H-share IPO of ant group is no less than 10% of the total share capital after the issuance of a shares and H shares. After the issuance of a shares and H shares, the total share capital shall not be less than 30038.97 million shares. Extended reading ant group distribution scheme! Alibaba has subscribed 730 million shares of ant science and technology innovation board. The half sale period of ant group is 2 years. The application time of ant group is October 29. The display code is 688688. Source: surging news editor: Wang Fengzhi_ NT2541

Subsequently, Reuters reported that the SFC is investigating the possible conflicts of interest in the ant group listing plan. Alipay, an ant group, is the only third party channel for retail investors to invest in 5 ant battle funds, and the Commission is investigating the role of Alipay in this matter. In response, ant said details of the strategic placement fund had been fully disclosed and it had not underwritten its own IPO. As a strategic investor, the fund participated in the initial public offering of ant group, which has been operated independently by the fund company.

According to the prospectus, the total number of new shares issued in the A-share issuance and H-share IPO of ant group is no less than 10% of the total share capital after the issuance of a shares and H shares. After the issuance of a shares and H shares, the total share capital shall not be less than 30038.97 million shares.