Alibaba’s Ant plans Hong Kong IPO, targets valuation over $200 billion

Alibaba’s Ant plans Hong Kong IPO, targets valuation over $200 billion

09.07.2020 News

Fintech company Ant Group, a division of the Chinese Internet company Alibaba, plans to hold an initial public offering (IPO) on the Hong Kong Stock Exchange this year. This could become one of the largest IPOs in the world in 2020, according to Reuters citing sources aware of the situation.

According to one of the sources, Ant Group expects to sell between 5% and 10% of its shares during the IPO and get an estimate of the entire company at more than $200 billion. “Although valued at about $150 billion in its last funding round in 2018, small trades in the secondary market late last year gave it an implied valuation of $200 billion,” reports the agency.

Sources also added that Ant Group originally planned to place shares in Hong Kong and Mainland China at the same time. However, now it is inclined to conduct listing in Hong Kong.

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