Ant's record strategic allocation in Shanghai IPO fuels small investor scramble

By Samuel Shen and Julie Zhu
SHANGHAI/HONG KONG (Reuters) - Chinese fintech giant Ant Group's move to earmark a record 80% of the Shanghai leg of its $35 billion dual-listing for strategic investors has led to a scramble among smaller investors for what some see as a once-in-a-lifetime opportunity.
Ant [IPO-ANTG.HK], backed by e-commerce firm Alibaba Group <BABA.N>, has launched a dual-listing process in Hong Kong and on Shanghai's STAR Market, and the offering is set to be the world's largest.
Some smaller Chinese investors, spooked by concerns they could get edged out of the initial public offering (IPO) at home, are looking to bid for Ant shares in the Hong Kong float, which sources have said will not include a cornerstone tranche.
The move underscores the likely robust demand for the float, even ...


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