HONG KONG (BLOOMBERG) - Billionaire Jack Ma's Ant Group plans to file for dual listings in Hong Kong and Shanghai in the next few weeks, targeting a valuation of about US$225 billion (S$307.5 billion), people familiar with the matter said, in an effort to pull off the world's largest initial public offering.. Read more at straitstimes.com.
HONG KONG - Billionaire Jack Ma's Ant Group plans to file for dual listings in Hong Kong and Shanghai in the next few weeks, targeting a valuation of about US$225 billion , people familiar with the matter said, in an effort to pull off the world's largest initial public offering.
A US$30 billion dual listing could mark the biggest debut globally, topping Saudi Aramco's record US$29.4 billion haul, according to data compiled by Bloomberg. At a valuation of US$225 billion, Ant's valuation would be bigger than Goldman Sachs Group and Morgan Stanley combined. Ant, which made about US$1.3 billion in profit in the March quarter, is Alibaba Group Holding founder Ma's prized asset. It's morphed from a fintech platform to an online mall for everything from loans and travel services to food delivery, in a bid to win back shoppers lost to Tencent Holdings.
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