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Markets

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Markets

Who will get rich or richer from Ant group’s USD30 billion IPO

A 1% stake could be worth USD2.2 billion. Alibaba Group Holding, controlled by Jack Ma, owns 32.65% of Ant’s Class A shares, while two employee holding partnerships together own 50.52%. Ant’s offshore employees hold about 8% of the company’s overseas shares. Through Class C shares, Alibaba and foreign investors hold the rest of the overseas shares.

1 Sep 20200 comment
Markets

Who will get rich or richer from Ant group’s USD30 billion IPO

A 1% stake could be worth USD2.2 billion. Alibaba Group Holding, controlled by Jack Ma, owns 32.65% of Ant’s Class A shares, while two employee holding partnerships together own 50.52%. Ant’s offshore employees hold about 8% of the company’s overseas shares. Through Class C shares, Alibaba and foreign investors hold the rest of the overseas shares.

1 Sep 20200 comment
Markets

Mr White & White takes a fancy to things grey: RK Damani’s deep-value bet on India Cements

Radhakishan Damani and his associates have increased their stake in India Cements to 20%. This has led to a momentum in the stock, despite the company giving negligible returns in the last 10 years. While analysts are not too hopeful on the cement sector, Damani is clearly betting on construction activity to pick up after the slowdown.

headset AUDIO SUMMARY . 01:23
Markets

Fund managers are divided on banks’ valuations. But they agree that a V-shaped recovery is unlikely.

Since the beginning of 2020, banking shares have plummeted 38.6% while the Nifty50 index has shed 24.6%, raising questions over the sector’s ability to outperform. Fund managers and broking firms, though divided on their views, believe the quality and rate of lending will now decide the composition of the banking index and large-cap mutual fund portfolios.

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