Five China funds targeting Ant IPO rake in $9b from over 10m investors

Five China funds targeting Ant IPO rake in $9b from over 10m investors

People walk by the Alibaba Group logo. Photo: Bloomberg

Five newly launched Chinese funds targeting Ant Group’s upcoming mega stock listing raised 60 billion yuan ($8.93 billion) cumulatively from more than 10 million retail investors, selling out within days, the funds‘ distributor said.

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