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Jack Ma Says Ant Group Has Set Pricing for Its Record IPO

  • Alibaba founder declines to provide more details on price
  • UBS, Fidelity line up for shares in Chinese fintech giant
Jack Ma
Jack MaPhotographer: Kiyoshi Ota/Bloomberg
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Ant Group Co. has set the price for its initial public offering in Shanghai, paving the way for a blockbuster sale that may give the Chinese fintech giant a valuation higher than JPMorgan Chase & Co.

Billionaire founder Jack Ma, speaking at a weekend conference, said Ant has determined the IPO price, though he didn’t disclose the amount. Pricing details for the China shares are expected by Tuesday, with the Hong Kong price to be announced as soon as Oct. 29, people familiar with the matter have said.