The big news was the green light for Ant Group’s Hong Kong IPO from the local regulators as speculation on the listing date is either the first or second week of November. Queen of the colony What Ant Group’s IPO says about the future of finance. Giants were up by 11 with five minutes left so I flipped to the debate. The company has raised the target range to about $250 billion from the previous valuation of $225 billion. Jack Ma's Ant Group has just pulled off the biggest share sale in history, marking a huge win for the Chinese tech champion and the country's stock market. Billionaire Jack Ma’s Ant Group is poised to pull off what could be the biggest initial public offering ever by simultaneously listing in Hong Kong and Shanghai. Ant Group is expected to raise more than $34 billion from its IPO, which would make it the largest-ever market listing – overtaking Saudi Aramco. The IPO is unlikely to be derailed, but Ant could soon be the target of largely symbolic sanctions by the Trump administration. By Sherisse Pham, CNN Business. Ant Group — the crown jewel of billionaire Jack Ma's tech empire — is one step closer to its highly anticipated market IPO in Shanghai and Hong Kong. Ant Group’s IPO could be the world’s largest, according to Reuters, “surpassing the record set by oil giant Saudi Aramco’s $29.4 billion float last December.” Ant “looks to increase its offering size to $35 billion from up to $30 billion, targeting a valuation of about $250 billion or more,” says Reuters. Ant Group will now proceed with a roadshow to market the IPO to investors and will price the shares on Oct. 27. Ant Group's Chinese IPO could be among the biggest in history. Ant Group to Raise More Than $34 Billion in Record IPO The mammoth initial public offering adds to an already frenetic year for China’s capital markets Ant’s IPO is gearing up to be larger than that of Saudi Aramco, which brought in more than $25 billion in the biggest IPO to date. Originally, it was a service arm of Alibaba itself – called Alipay – but it has since become a separate company. I continue to go through the Ant Group filing and I will report my key takeaways on Monday. Ant Group’s listing in Hong Kong likely won’t be completed by the end of October, as originally hoped, due to scrutiny from Chinese regulators. The STAR market approved the Shanghai listing about a month ago. Updated 1112 GMT (1912 HKT) August 26, 2020 . Its origins date back to 2004 as Alibaba’s online payment service called Alipay. JUST WATCHED Company shuns Wall Street IPO … Ant, in its upcoming dual listing, is speculated to be worth more than some of the biggest banks from Wall Street [3]. Summary: In an IPO market that is to date nothing short of exuberant, the biggest this year is yet to come. If the company exercises its greenshoe option, which would allow it to sell … Ant Group: why America is missing out on the biggest IPO in history September 1, 2020 9.01am EDT • Updated September 2, 2020 8.53am EDT Daniel Broby , University of Strathclyde Ant Group is going public in what could mark the biggest 2020 IPO globally to date. Ant Group plans to raise about $30 billion in an IPO. Ant Group plans to raise over $35 billion from its dual-listing IPO. Ant Group is China’s largest fintech company and was spun off from Alibaba. Ant, the fintech company backed by Chinese e-commerce group Alibaba Group Holding BABA.N, plans to list simultaneously in Hong Kong and Shanghai in the coming weeks, sources have said.. Although the company's IPO date hasn't been set, it could happen in the next few months. The giant Chinese fintech upstart is expected to raise more than $30bn, eclipsing Saudi Aramco’s debut last year Publishing date: Oct 30, 2020 • • 3 minute read. Ant Group’s total outstanding shares post-IPO (A-shares + H-shares): 30,376,487,820 (comprising 76.97% in A-shares, 23.03% in H-shares) Post-IPO market cap : US$314bn, based on IPO price Do note that the above figures do not include the exercise of the over-allotment option , where up to an additional 15% of IPO shares may be issued, raising an additional ~US$5.2bn in cash proceeds. Ant Financial has Alibaba’s financial and tech muscle behind it. Ant Group, China's dominant mobile payments firm, are set to dominate the listed fintech space with their upcoming, humongous, record setting IPO. It then separated from Alibaba as a separate entity and changed its name to Ant Financial in 2014. Alibaba, the NYSE-listed Chinese e-commerce giant, holds a 33% stake in Ant Group. Ant Financial then again changed its name in June 2020 to Ant Group to emphasise that it is more than a financial company. Alibaba owns 33% equity in Ant Group [3]. The offering will instead be on the Shanghai and … Sovcombank, the “ Klarna of Russia”, is rumored to be contemplating an IPO now. I flipped back a few minutes later and they … That means BABA stock acts as an Ant Financial IPO proxy. The Ant Group IPO could be history’s biggest offering. China’s PayPal rival, Alipay, is owned by Ant Group [5]. The debate and the Giants/Eagles game were distractions last night. HONG KONG — Retail investors placed bids for a record $3 trillion of shares in Ant Group Co Ltd’s initial public offering (IPO), set to be the world’s biggest, as mom-and-pop savers bet on demand for its financial services in China. Klarna is a “buy now, pay later” program. The Hong Kong leg of the IPO is being sponsored by China International Capital Corp (CICC) 3908.HK, Citigroup Inc C.N, JPMorgan Chase & Co JPM.N and Morgan Stanley MS.N. Ant Group IPO date is a moving target as some say next Friday while a Mainland broker said Friday, November 6 th. There will be approximately 3.34 billion shares on sale, which would account for 11% of Ant Group’s outstanding stock. Ant Group IPO date is a moving target as some say next Friday while a Mainland broker said Friday, November 6 th. Ant is affiliated with e-commerce giant Alibaba , which raised a record $25 billion when it debuted on Wall Street in 2014 — still the world's second largest IPO to date. Ant Group Chairman Announces Update on the new Ant Financial IPO dates. Log In Receive full access to our market insights, commentary, newsletters, breaking news alerts, and more. 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