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Ant IPO Sets Off $3 Trillion Scramble Among Small Investors

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Ant IPO Sets Off $3 Trillion Scramble Among Small Investors

To Ant Group Co.’s set of staggering statistics—a billion users, more than $17 trillion in yearly payment volumes—add one more: trillions of dollars in stock orders from small investors.

Late Thursday, the Chinese financial-technology giant said individual investors in mainland China had placed the equivalent of more than $2.8 trillion of orders for their slice of Ant’s record-breaking initial public offering, in which it is listing simultaneously in Shanghai and Hong Kong.

That…

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