Jack Ma's Ant Group plans to increase IPO valuation target to $280 billion

Despite the US headwinds, Jack Ma's Ant is moving ahead with what could be the world's largest IPO, with same-day listings in Hong Kong and Shanghai, the people said

Ant Group plans to increase the valuation target for its initial public offering to at least $280 billion due to strong demand, charging ahead with the sale even as the Trump administration weighs restrictions on the Chinese fintech giant, according to people familiar with the matter.

The Hangzhou-based company is lifting the target by at least 12 per cent from a previous estimate of $250 billion after initial discussions with investors, the people said, requesting not to be identified because the matter is private. Ant aims to raise about $35 billion in the sale, people familiar said.

Despite the US headwinds, Jack