Banks working on Anthropic’s initial public offering are refusing orders from institutional investors in mainland China and Hong Kong or giving them little chance of receiving an allocation, in part due to US defense trade rules, Bloomberg reported. The move comes as investor orders for the listing have reached roughly six times the available shares, with underwriters telling prospective buyers that existing backers will be prioritized.
Anthropic and selling stockholders are offering 825 million Class A shares at $70 to $78 each to raise up to $64.4 billion in the IPO, targeting a fully diluted valuation of up to $1.41 trillion. Alongside a concurrent $26 billion private placement at the IPO price from Google, Nvidia, AMD, Broadcom, Micron, Microsoft and TSMC, total proceeds could reach $90.4 billion, surpassing SpaceX’s $86.2 billion debut as the largest public listing in history. The offering is scheduled to price Wednesday, Nov 18, and begin trading the next day on Nasdaq under the ticker ANT.
