Ant Group and its advisers are getting creative as they attempt to score the world’s largest initial public offering amid a coronavirus pandemic as well as a first-of-its-kind simultaneous listing in Hong Kong and Shanghai.

Known for upending the financial industry across China with its easy-to-use payments app Alipay, the unicorn is now bringing its innovative culture to bear on capital-markets challenges such as meshing together the regulatory timetables and securities’ settlement cycles of two exchanges.

These are ultimately logistical and technical problems for Ant to crack or plan around as it steadily moves forward with its jumbo IPO. China’s regulators remain keen to help a national technology champion secure funding for growth, and investors are clamouring to own its shares.

Get the latest insights and analysis from our Global Impact newsletter on the big stories originating in China.

Ant’s solutions to the problems it encounters will smooth the path for other Chinese companies looking to tap mainland investors via Shanghai’s fledgling Star Market, and international investors on Hong Kong’s stock exchange.

An employee sits in front of a mural at the Ant Group headquarters in Hangzhou, China. Photo: Bloomberg alt=An employee sits in front of a mural at the Ant Group headquarters in Hangzhou, China. Photo: Bloomberg

The coronavirus pandemic has forced a sea change in how companies conduct capital raising globally this year. Ant’s IPO, given its size, will take the digitisation of deals to a new level.

While Ant’s management and advisers will be able to meet in person with several mainland Chinese investors, given that infection numbers have plummeted from levels seen earlier this year, overseas travel is impractical, people familiar with the process said.

Instead, Ant and its advisers plan to embark on a digital roadshow, speaking over video with international investors. Ant will be

As the presidential election approaches, I am increasingly seeing claims that President Trump put the U.S. back on top as the world’s leading oil producer. So, let’s take a closer look.

Here is a 2013 article from the Daily Mail announcing the U.S. as the world’s top oil producer:

U.S. has overtaken Saudi Arabia to become the world’s biggest oil producer on jump in output from shale

You can find plenty of articles from 2013 and 2014 announcing that the U.S. had regained the position as the world’s top oil producer. So what is the basis for making the claim that President Trump put the U.S. back on top? Allow me to explain.

To support this claim, someone linked me this article from the Energy Information Administration (EIA). That article contains a graphic that seems to show that the U.S. was approaching the top spot for petroleum in the 2013-2015 time frame (before the oil price crash), but not actually achieving that distinction until 2018.

That would seem to support the claim, but there are two things to note here about that graphic. First, the graphic isn’t reporting barrels of petroleum. It is reporting energy content. When we talk about how much oil Saudi Arabia produces, we talk about barrels. Nobody says that Saudi