Ant Group said to raise USD 30 bln for listing in Sep or Oct

2020-08-06
|
Lynn Lin

According to the Hong Kong Economic Journal, Ant Group under Alibaba has launched an A+H listing plan.


It is said that Ant Group plans to raise USD 30 billion for the listing in Shanghai and Hong Kong. According to some speculation, the IPO will be as soon as September.


Based on the above-mentioned fund-raising scale, Ant Group is expected to surpass Saudi Aramco and become the largest IPO in history.


According to insider sources, Ant Group is valued at approximately USD 200 billion and going to issue 15% of its shares.


The group plans to issue 10% of its shares on Shanghai Stock Exchange's Science and Technology Innovation Board, and the remaining 5% on the Stock Exchange of Hong Kong.


Some IPO underwriter said that the listing process of Ant Group would be very fast, and the IPO could happen either in September or October.


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