Investment Banking

JPMorgan among banks winning fee jackpot from Ant Group’s record $34bn IPO

A staff member uses noseprint identifying technology developed by Ant Group during the In.clusion Fintech Conference in Shanghai.
A staff member uses noseprint identifying technology developed by Ant Group during the In.clusion Fintech Conference in Shanghai. Photo: Getty Images

Three global investment banks, a Chinese bank and a boutique established by former Morgan Stanley dealmakers, have landed key roles what is set to be the world's biggest initial public offering by technology group Ant Group.

Citigroup, JPMorgan, Morgan Stanley and China International Capital Corporation are the four sponsors on the deal, which will raise at least $34bn, according to regulatory filings.

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The 6 Miles of Water Keeping Global Markets on Edge