According to two sources with direct knowledge of the matter at hand, China’s Ant Group is set to close its Hong Kong institutional book building a day ahead of schedule, as it races to raise $17.2 billion from the city. While the institutional offer was set to close on Thursday, the deadline has been advanced to 5pm on Wednesday.
The offer was oversubscribed just one hour after the launch on Monday, said two sources with direct knowledge of the matter at hand.
Ant Group declined to comment on the early closure.
Sources preferred the cover of anonymity since they are not authorized to comment to the media.
China’s Ant Group is looking to raise up to $34.4 billion in a dual listing in Shanghai and Hong Kong with the offer split between the two exchanges.