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.
Markets
Ant Group IPO-linked Chinese funds to return $9bn to investors
Asset companies also seek approval to set aside 18-month lockup requirement
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
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