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Jack Ma's Ant Group seeks to raise $35 billion in biggest-ever IPO

The company's much-anticipated IPO is on track to surpass Saudi Aramco's $29 billion sale last year

Ant Group
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Ant has picked China International Capital Corp. and CSC Financial Co. to lead its Shanghai leg of the IPO

Lulu Yilun Chen | Bloomberg Shanghai
Jack Ma’s Ant Group Co. is set to raise almost $35 billion through initial public offerings in Shanghai and Hong Kong, a blockbuster listing that will rank as the world’s biggest share sale ever.
 
The fintech priced its Shanghai stock at 68.8 yuan ($10.27) apiece and its Hong Kong shares at HK$80 ($10.32) each. Ant will be valued at about $280 billion before the IPO, and will raise about $34.5 billion from Shanghai and Hong Kong before exercising its green shoe option, based on filings Monday.
 
The company’s much-anticipated IPO is on track to surpass Saudi Aramco’s $29 billion sale

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First Published: Oct 26 2020 | 6:49 PM IST

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