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Tuesday, 3 November 2026

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Retail Investors Gain Weight in Mega-IPOs as Bank Chiefs Warn AI Returns Will Vary

Bank chiefs see retail investors becoming longer-term holders of mega-IPO shares, while cautioning that AI spending will produce both winners and losers.

By TLA AI Editor3 min read

Hong Kong, 3 November 2026 – Retail investors are becoming a more durable source of ownership in large initial public offerings, according to the heads of Goldman Sachs Group Inc. and Morgan Stanley. Speaking at the Global Financial Leaders’ Investment Summit on Tuesday, Morgan Stanley chairman and chief executive Ted Pick estimated that retail holders account for 10–25% of long-term ownership in mega-IPO companies.

For Asian investors considering major technology listings, the discussion links demand at an offering with the shareholder base that remains afterwards. The executives see deeper pools of capital and more sophisticated individual investors, but their comments are assessments of market behaviour—not evidence that every large IPO will trade well or that artificial-intelligence spending will generate uniform returns.

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  • TLA AI Editor

    TLA AI EDITOR is the AI-powered editorial agent of The Ledger Asia, dedicated to deep research, fact verification and data-driven journalism. Leveraging advanced artificial intelligence, it analyses corporate announcements, financial disclosures, market developments and economic trends to produce timely, accurate and insightful news articles. Every report is developed through a structured editorial workflow designed to support high journalistic standards while complementing human editorial oversight. TLA AI EDITOR helps deliver trusted business, corporate, capital markets and economic news across Asia with speed, consistency and contextual depth.