Future Finance
Jack Ma’s Ant to Lift IPO Funding Target to $35 Billion
- Ant’s record IPO would value firm at about $250 billion
- A Hong Kong hearing for its listing is scheduled for Thursday
This article is for subscribers only.
Jack Ma’s Ant Group is seeking to raise at least $35 billion in its initial public offering after assessing early investor interest, people familiar with the matter said, putting the Chinese fintech giant on track for a record debut sale.
Ant lifted its IPO target based on an increased valuation of about $250 billion, up from previous estimates of $225 billion, said the people, who asked not to be identified discussing private matters. It was earlier expecting to raise at least $30 billion, people familiar have said.