Ant Group files for record listing in Hong Kong and Shanghai

The $30bn listing would be the world's largest beating Saudi Aramco’s $29bn IPO

Alibaba’s Ant Group has filed to be listed in Hong Kong and Shanghai which could become the worlds largest IPO, raising around $30bn (£22bn, €25bn).

Although the size, timetable and other key details of the offering are not disclosed, people close to the matter say the group was aiming to raise about $30bn targeting a valuation of $200bn to $300bn and selling 15 per cent of its shares – five per cent in Hong Kong and 10 per cent in Shanghai.

The Hangzhou-based company earned 72.5bn yuan ($10.5bn) in revenue in the first half of 2020, after full-year sales of 120.6bn yuan in 2019, with its payments business Alipay contributing to 43 per cent of its sales, it said. The firm posted a profit of 21.2bn yuan in the first half of 2020.

Ant said its Alipay app, which is the most popular mobile payment platform in China, has 1bn annual users, with 711m active monthly as of June and payment volumes reaching 118tn yuan in China

What is your sentiment on BABA?

79.94
Bullish
or
Bearish
Vote to see community's results!

The listing would top Saudi Aramco’s $29bn IPO which is the record so far. 

FURTHER READING: Saudi Aramco maintains $75bn dividend despite profit plunge

The material provided on this website is for information purposes only and should not be regarded as investment research or investment advice. Any opinion that may be provided on this page is a subjective point of view of the author and does not constitute a recommendation by Currency Com Bel LLC or its partners. We do not make any endorsements or warranty on the accuracy or completeness of the information that is provided on this page. By relying on the information on this page, you acknowledge that you are acting knowingly and independently and that you accept all the risks involved.
iPhone Image
Trade the world’s top tokenised stocks, indices, commodities and currencies with the help of crypto or fiat
iMac Image
Trade the world’s top tokenised stocks, indices, commodities and currencies with the help of crypto or fiat
iMac Image