What We Learned From Ant Group’s New IPO Filing
- Date: 25-Aug-2020
- Source: Forbes
- Sector:Financial Markets
- Country:Saudi Arabia
What We Learned From Ant Group’s New IPO Filing
TOPLINE
Ant Group, the fintech arm of Jack Ma's Chinese e-commerce giant Alibaba, filed new IPO documents—a highly anticipated first look at the company's financials—on Tuesday ahead of its listing on the Hong Kong and Shanghai stock exchanges, and here's what we learned:
Jack Ma, founder of Alibaba Group
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KEY FACTS
Ant raked in $2.5 billion in profit in 2019, and its revenue grew more than 40% in 2019 to $17.4 billion.
While the company has not yet announced a pricing plan for its shares (that comes later in the IPO process), many are speculating that this could be one of the biggest IPOs ever, with the potential to surpass even