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Ant Group set for a jumbo IPO @ $34.4 bn

Oct 30, 2020 14:31 IST

Ant Group, founded by the billionaire Jack Ma under the Alibaba Group, is set to see a record IPO. Due to be the world’s largest stock market debut, the Ant Group -- a financial startup -- is poised to raise up to $34.4 billion in its initial public offering. This will raise its value to about $312 billion. At that valuation, Ant will break the record set by oil major Saudi Aramco that opened to a $29.4 billion listing last December. Ant shares are expected to be available for trading in Hong Kong and Shanghai starting November 5.

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