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KEY STAT | 1.3 billion Chinese citizens to benefit from Ant Group IPO

Written by Julianna Wu Published on 

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China’s National Social Security Fund is the biggest external institutional shareholder of Ant Group.

As Ant Group’s biggest external institutional shareholder, China’s National Social Security Fund (NSSF) would be in possession of 2.33% of Ant’s shares once it’s listed, according to the prospectus.

Local news outlet Yicai earlier estimates that the fund will earn between RMB 20 billion to RMB 30 billion (USD 2.97 billion to USD 4.46 billion) from Ant’s early-November Shanghai-Hong Kong dual listing, which is expected to raise as much as USD 35 billion, according to media reports.

That means the approximately 1.3 billion Chinese citizens who have been putting part of their salaries into NSSF would become indirect shareholders of Ant, benefiting from its mega IPO through the fund.

Chen Wenhui, vice chairman of NSSF’s management council, said on Sunday in Shanghai that NSSF, which has backed Ant Group since its earliest round of fundraising in 2015, is actively participating in Ant’s IPO, waiting for the allotment of shares to be announced, 36Kr reported.

Read this: BIZ IN GRAPHICS | Ant Group to launch what could be the world’s biggest IPO soon

This article is part of KrASIA’s “Key Stat” series, where KrASIA picks and presents the most significant figures of the day’s technology and business world.

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