⁍ Ant’s dual listing is set to raise about $34.4 billion, split fairly evenly between Shanghai’s STAR Market and Hong Kong.

---

⁍ The Shanghai leg of the IPO drew about 19 trillion yuan ($2.8 trillion) of bids from retail investors.

---

⁍ The Hong Kong tranche got HK$1.3 trillion ($168 billion) in bids, or 389 times the shares on offer.

---

– The Alibaba-backed company behind China’s biggest initial public offering ever is pricing its shares in Hong Kong on Friday—and retail investors are bidding a record $3 trillion for them, reports Reuters. That’s equivalent to about 389 times the number of shares on offer in the Hong Kong portion of Ant Group’s IPO, which is expected to raise about $34.4 billion. Ant is offering 1.67 billion shares in the Hong Kong portion and 1.67 billion shares in the Shanghai portion, with the latter leg pricing its shares at about $10 per share, the New York Times reports.