Ant Group Will Raise $34.5 Billion In Biggest IPO Ever
- Date: 26-Oct-2020
- Source: Forbes
- Sector:Financial Markets
- Country:Middle East
Ant Group Will Raise $34.5 Billion In Biggest IPO Ever
Topline
Ant Group, the financial technology arm of Chinese e-commerce giant Alibaba, plans to raise $34.5 billion when it lists its shares on the Hong Kong and Shanghai stock exchanges—that would make its initial public offering the largest in history.
Jack Ma, founder of Alibaba Group, attends opening ceremony of the 3rd All-China Young Entrepreneurs ... [+] Summit on September 25, 2020 in Fuzhou, Fujian Province of China.
China News Service via Getty Images
Key Facts
Shares in Hong Kong will be priced at $10.30, and shares in Shanghai will be priced at about $10.25.
The previous record holder is Saudi Aramco, the state-run oil company in Saudi Arabia, which raised $29.4