Banks refuse mainland China and Hong Kong investors' subscriptions to Anthropic IPO citing export controls
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Several banks have rejected orders from mainland Chinese and Hong Kong investors to subscribe to the Anthropic IPO, or believe there is very little likelihood they will be allocated shares. Some people familiar with the matter told Bloomberg the reason is the US export control rule ITAR. Anthropic declined to comment. The offering is led by Goldman Sachs and Morgan Stanley, with 20 other banks participating. The shares are expected to be priced on November 18 and then trade on Nasdaq under the ticker ANT.
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- The DecoderBanks bar Chinese and Hong Kong investors from Anthropic IPO over US export controls
According to Bloomberg, banks including lead underwriters Goldman Sachs and Morgan Stanley have rejected buy orders from mainland China and Hong Kong investors or consider allocations unlikely for Anthropic's IPO, with some citing ITAR export control rules. The stock is expected to trade on Nasdaq under the ticker ANT after pricing on November 18. Anthropic's products are not officially available in China or Hong Kong, and the company has blocked Chinese-controlled firms from its AI services and exposed distillation attacks by DeepSeek, Moonshot, and MiniMax involving some 16 million queries.
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