Alibaba's Ant Group Plans to Raise USD 30 Billion Through Dual-Listing
According to Hong Kong Economic Journal, Alibaba's (BABA:NYSE) affiliate Ant Group expects to raise USD 30 billion via a double IPO in Shanghai and Hong Kong. With a striking valuation at roughly USD 200 billion, Ant plans to issue 10% of its shares on Shanghai's Star Market and another 5% in Hong Kong exchanges.
Ant thereby is likely to raise the largest amount of funds through its offering in the world's IPO history, exceeding that of Saudi Aramco (2222:TADAWUL). People close to the matter said that the IPO of Ant Group will have a quick review process, and the listing may happen in September at the soonest.
This text is a result of machine translation.
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