How retail investors stumped up a record US$3 trln for Ant shares

From retail investors alone, it attracted a bid value the equivalent of Britain's gross domestic product.

HONG KONG: Retail investors bid for a record $3 trillion worth of shares in Ant Group Co Ltd's dual listing, in an unprecedented show of interest from mom-and-pop savers betting on demand for its financial technology services in China.

The world's largest initial public offering (IPO) was split fairly evenly between Shanghai's STAR Market and Hong Kong, raising about $37 billion including the greenshoe option of the Shanghai leg. From retail investors alone, it attracted a bid value the equivalent of Britain's gross domestic product.