Home / World News / Jack Ma's Ant Financial plans dual IPO, targets $225 bn valuation: Report

Jack Ma's Ant Financial plans dual IPO, targets $225 bn valuation: Report

The share sales could raise about $30 billion in total if markets are favorable, said one of the people

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Ant, which made about $1.3 billion in profit in the March quarter, is Alibaba Group Holding Ltd. founder Ma’s prized asset

Scott Deveau and Lulu Yilun Chen | Bloomberg

3 min read Last Updated : Aug 21 2020 | 9:48 AM IST

Billionaire Jack Ma’s Ant Group plans to file for dual listings in Hong Kong and Shanghai in the next few weeks, targeting a valuation of about $225 billion, people familiar with the matter said, in an effort to pull off the world’s largest initial public offering.

The share sales could raise about $30 billion in total if markets are favorable, said one of the people, requesting not to be named because the matter is private. The Hangzhou-based firm seeks to float its shares simultaneously on the Hong Kong stock exchange and the tech-focused Star board in Shanghai as soon as

Topics : Jack Ma Ant Financial IPOs Hong Kong Shanghai Tencent Holdings

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