Jack Ma’s Ant Group aims to raise $34.5 billion in largest IPO of all time
- Date: 26-Oct-2020
- Source: Business Insider
- Sector:Financial Markets
- Country:Middle East
Jack Ma’s Ant Group aims to raise $34.5 billion in largest IPO of all time
Ant Group logo is pictured at the Shanghai office of Alipay, owned by Ant Group which is an affiliate of Chinese e-commerce giant Alibaba, following the coronavirus disease (COVID-19) outbreak, in Shanghai, China September 14, 2020.
Aly Song/Reuters
Ant Group will raise $34.5 billion through a dual initial public offering in November, making it the biggest-ever IPO.The financial services giant aims to evenly split its 1.67 billion-share debut across the Hong Kong and Shanghai exchanges.Shares will be priced at 68.8 yuan ($10.27) each in Shanghai and at 80 Hong Kong dollars ($10.32) in Hong Kong. The collective sum trounces the previous $29 billion record set by Saudi Aramco's IPO last year.Ant is set to begin trading in Hong Kong on November 5, according to regulatory filings.Visit the Business Insider homepage for
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