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Reuters exclusively reports inside Ant Group’s unusual IPO process

Reuters reported exclusively that China’s Ant Group Co Ltd is asking lead bankers to personally sign confidentiality pacts and pressing some investors to explain why they should be allowed to attend marketing meetings ahead of what’s likely to be the world’s largest initial public offering. Other unique measures taken by Ant include dividing up the underwriting work for what could be a $35 billion offering among several banks so that no one firm has the full picture of the process. Reuters sources said the main underwriters are also discouraged from working on assignments for competitors. 

Article Tags
Type: Reuters Best
Sectors: Equities
Regions: Asia
Countries: China
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text