China Traders Eyeing Ant IPO Will Get More Access With New Funds
- Five money managers launch funds with Ant stock included
- Ma’s finance firm plans $35 billion IPO in Shanghai, Hong Kong
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Chinese investors hoping to get a slice of Ant Group Co.’s massive stock debut can boost their chances by buying into new funds that are kick-starting sales this week.
Five firms have agreed to subscribe to Ant’s Shanghai listing via new funds, Ant said in a filing Tuesday. The fintech giant’s shares in the new funds will be capped at 10%, based on existing rules for mutual funds.