By Isla Binnie and Echo ******
NEW YORK, June 5 (Reuters) - ****** eX has drawn investor demand of about $150 billion for its IPO, about double the $75 billion it is seeking to raise, said two people familiar with the matter on Friday.
An oversubscription rate of two times would be considered modest for most highly anticipated market flotations, but bankers and investors said that demand is impressive for the ****** eX offering since it is the largest IPO ever.
The company remains in the early stages of the marketing process, sources cautioned. Investor demand is still subject to change before the IPO prices next week.
The sources added that some large institutional investors tend to submit orders late in IPO processes, and that current subscription figures reflect indications of interest rather than final allocations, which will be set at pricing.
NEW YORK, June 5 (Reuters) - ****** eX has drawn investor demand of about $150 billion for its IPO, about double the $75 billion it is seeking to raise, said two people familiar with the matter on Friday.
An oversubscription rate of two times would be considered modest for most highly anticipated market flotations, but bankers and investors said that demand is impressive for the ****** eX offering since it is the largest IPO ever.
The company remains in the early stages of the marketing process, sources cautioned. Investor demand is still subject to change before the IPO prices next week.
The sources added that some large institutional investors tend to submit orders late in IPO processes, and that current subscription figures reflect indications of interest rather than final allocations, which will be set at pricing.
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