SINGAPORE - Singapore state investor Temasek Holdings is considering an investment in the initial public offering of Chinese financial technology company Ant Group, which could be the world's biggest IPO, two people familiar with the matter said.
That would make it the world's biggest IPO since Saudi Aramco raised US$29.4 billion last December, which surpassed the record set by Alibaba in 2014.The potential investments by two of the world's biggest state investors underscore that Ant's mammoth IPO is gaining traction. Temasek and GIC also participated in Ant's US$14 billion funding round in 2018.
Temasek is mulling investing in both the onshore and offshore legs of the dual listing, which could come as soon as October, said the second source. Temasek's portfolio exposure to China, as measured by underlying assets, increased to a record 29 per cent in the year ending March, from 26 per cent a year earlier, while exposure to Singapore fell to 24 per cent from 26 per cent.
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Source: BusinessTimes - 🏆 15. / 51 Read more »
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