Future Finance
Jack Ma’s Ant Said to Target $225 Billion Valuation in IPO
- Ant is planning to raise about $30 billion in dual listing
- Ant could file for IPO in Hong Kong, Shanghai in weeks
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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 $225 billion, people familiar with the matter said, in an effort to pull off the world’s largest initial public offering.
The share sales could raise about $30 billion in total if markets are favorable, said one of the people, requesting not to be named because the matter is private. The Hangzhou-based firm seeks to float its shares simultaneously on the Hong Kong stock exchange and the tech-focused Star board in Shanghai as soon as October, the people said.