Ant distribution plan: Strategic rationing ratio reaches 80percent, Da Xin scale exceeds 20 billion

category:Finance
 Ant distribution plan: Strategic rationing ratio reaches 80percent, Da Xin scale exceeds 20 billion


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80% strategic placement

It can be seen that ant group has increased the proportion of strategic placement. Industry insiders said that the main consideration was the markets bearing capacity, while allowing more ordinary investors to share the dividend of ant group. In fact, in the U.S. stock market, Hong Kong stock market and other markets, a large proportion of institutional investors subscribe to high-quality new shares, which is a standard allocation operation. For example, when Alibaba was listed in the United States in 2014 and re listed in Hong Kong stock market in 2019, the institutional placement ratio was 90%; when Xiaomi and Jingdong were listed in Hong Kong stock market, the institutional placement ratio was 95%. In the A-share market, the initial strategic placements of Beijing Shanghai high-speed rail, China Guanghe and SMIC international also accounted for 50%.

According to people familiar with the matter, CIC and China social security fund have decided to participate in A-share strategic investment; international institutional investors also include Singapore Temasek, Singapore Government Investment Corporation, Abu Dhabi Investment Authority, Saudi Arabia public investment fund and other top global sovereign wealth funds. In terms of the strategic placement restriction period, according to the issuance plan, strategic investors, including Alibaba group and the worlds six major sovereign funds, need to promise that 50% of the shares will be restricted for 12 months and 50% will be restricted for 24 months.

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As a matter of fact, the strategic placement threshold of the science and technology innovation board is relatively high, and there are requirements for investors qualification, capital reserve and sales restriction period. The courage to introduce more long-term investors reflects ants self-confidence; under the above constraints, global institutional investors are still competing to target ants, which proves that investors fully recognize the development potential of ants. Wei Tao, assistant to the president of Huaxi Securities and director of the Research Institute, told zhongzhengjun that strategic placement is not a one-way choice, it is a two-way choice between the target and the market.

With the return of ant group, the 100 billion dollar super unicorn, the A-share market will attract more Chinese companies to return and attract more high-tech companies to choose A-share. Guo Jingpu, deputy director of Guojin Securities Research Institute, said.

Hit a new scale of more than 20 billion yuan

As a company of this size, will A-share bear more pressure? According to industry insiders, compared with the listing situation of other popular stocks: in 2009, CSCECs final A-share raised more than 50 billion yuan; in 2010, Agricultural Bank of Chinas final A-share raised more than 68.5 billion yuan; in 2019, SMIC international science and technology innovation board raised 53.2 billion yuan; in 2020, Beijing Shanghai high-speed rail IPO raised more than 30 billion yuan The absolute value of A-share new scale disclosed by ant belongs to the normal range.

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In addition, if the subscription situation is hot, triggering the call back mechanism and the green shoes mechanism, market investors can also share a larger share. If the A-share over allotment right is fully exercised, the total number of a shares issued will be expanded to less than 1.92 billion shares. Before that, ordinary investors also took a share of ants strategy. As a part of the ant strategic placement plan, ant group, together with five fund companies, issued five ant stocks and one yuan initial investment innovative future fund, which was popular in the market and sold out on the evening of October 8, totaling more than 10 million subscribers. In 2014 double eleven period, Ma Yun accepted CCTV interview, said: Alipay will be listed on A shares, the main purpose of the listing is not for money, but to allow more participants to share. Source: China Securities Journal Editor in charge: Yang Bin_ NF4368

In addition, if the subscription situation is hot, triggering the call back mechanism and the green shoes mechanism, market investors can also share a larger share. If the A-share over allotment right is fully exercised, the total number of a shares issued will be expanded to less than 1.92 billion shares.

Before that, ordinary investors also took a share of ants strategy. As a part of the ant strategic placement plan, ant group, together with five fund companies, issued five ant stocks and one yuan initial investment innovative future fund, which was popular in the market and sold out on the evening of October 8, totaling more than 10 million subscribers.