|Bid||2.4600 x 2200|
|Ask||2.4700 x 3200|
|Day's Range||2.4450 - 2.5000|
|52 Week Range||1.9600 - 3.1900|
|Beta (5Y Monthly)||1.03|
|PE Ratio (TTM)||5.59|
|Forward Dividend & Yield||0.14 (5.64%)|
|Ex-Dividend Date||Mar 30, 2020|
|1y Target Est||N/A|
(Bloomberg) -- T. Rowe Price Group Inc., UBS Asset Management and FMR LLC, the parent of Fidelity Investments, are among the money managers angling for a piece of Ant Group Co.’s blockbuster initial public offering, a person familiar with the matter said.Each of the firms is considering investments worth several billion dollars in Ant’s Hong Kong-listed shares, though they’ve yet to finalize plans and there’s no guarantee they’ll get an allocation, the person said, asking not to be identified discussing private information.Ant is expected to start taking orders for the Hong Kong portion of its dual listing on Oct. 26 and price shares as soon as Oct. 29, people familiar with the matter said. The company may raise about $35 billion in Hong Kong and Shanghai combined, plus another $5 billion after it exercises so-called greenshoe options, the people said, adding that the numbers and timeline are subject to change. That would give Ant a valuation of around $320 billion, making it bigger than JPMorgan Chase & Co.Ant, T. Rowe Price and UBS Asset declined to comment. FMR didn’t immediately respond to an emailed request.Jack Ma’s Chinese fintech giant is one of the most hotly anticipated IPOs in years, on course to make history by surpassing Saudi Aramco’s record $29 billion share sale in 2019.Singapore’s sovereign wealth fund GIC Pte, Temasek Holdings Pte and China’s $318 billion National Council for Social Security Fund are also jockeying for a slice of the deal, people familiar with the matter said earlier this month, as are myriad other investment firms and thousands of mom-and-pop traders in China and Hong Kong. Alibaba Group Holding Ltd. will also buy new Ant shares to maintain its ownership stake at around 32%.Read more: As IPO Looms, All You Need to Know About Jack Ma’s Ant GroupAnt will price the Shanghai portion of its listing on Oct. 27 and allow subscriptions on Oct. 29, it said in a prospectus published Wednesday. That means investors will have to commit to the deal just days before a U.S. presidential election that could have ramifications for both Ant’s overseas expansion plans and investor risk-appetite generally. Shares will almost certainly start trading only after the U.S. vote on Nov. 3.Ant has recently added CCB International as a joint global coordinator for the IPO in Hong Kong, a person familiar said. The deal will have eight joint book runners, including recent addition Mizuho Financial Group Inc., the person said.Mizuho declined to comment and CCB didn’t immediately reply to an e-mailed request.Ant has picked China International Capital Corp. and CSC Financial Co. to lead its Shanghai leg of the IPO. CICC, Citigroup Inc., JPMorgan and Morgan Stanley are heading the Hong Kong offering.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of Mizuho Securities Co., Ltd. Tokyo, September 26, 2020 -- Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Mizuho Securities Co., Ltd. and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers.
(Bloomberg) -- SoftBank Group Corp.’s sale of 1.24 trillion yen ($11.8 billion) of stock in its domestic wireless arm met with robust demand from overseas and Japanese financial institutions, as well as individual investors in Japan, according to people familiar with the matter.Foreign and domestic institutional investors sought more than five times as many shares than were for sale, said people involved in coordinating the transaction, who asked not to be identified because the information isn’t public. Demand from retail investors also exceeded the shares allocated.The transaction, Japan’s biggest secondary share sale in two decades, is among the latest in a frenzy of deals unleashed by SoftBank founder Masayoshi Son as the company looks to refill its coffers amid the continuing coronavirus pandemic. Son has already offloaded $13.7 billion of Alibaba Group Holding Ltd. stock and a stake in T-Mobile US Inc. for about $20 billion. It also recently agreed to sell Arm Ltd. to Nvidia Corp. for about $40 billion. SoftBank is using some of the proceeds to pay down debt and is mid-way through a record 2.5 trillion yen of stock repurchases.The Japanese firm earlier this week said it will sell SoftBank Corp. shares at 1,204.50 yen apiece, disposing about a third of its stake. SoftBank Corp.’s shares have climbed almost 3% since the announcement.Nomura Holdings Inc., Daiwa Securities Group Inc., Mizuho Financial Group Inc., Merrill Lynch Japan Securities Co. and JPMorgan Chase & Co. are the global coordinators on the deal. Nomura underwrote 35% of the domestic stock, followed by Daiwa with 30% and Mizuho’s 15%, according to the people. Overseas, Nomura, Bank of America Corp. and JPMorgan had a 20% share each. The underwriters received 21.6 billion yen in fees, according to a spokesperson for SoftBank.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.