Ant Group Poised to Smash IPO Records

ANT group IPO blog post cover image

Chinese tech goliath Ant Group announced plans to raise more than $34 billion in its IPO. This breaks the previous record held by Saudi Arabian Oil Co., which was priced at $29 billion in its 2019 IPO.

Jack Ma, the founder of Ant and affiliate Alibaba Group Holding, called it a “miracle” that there is such a large listing outside of New York.

Ant’s market debut has continued concerns because of the U.S. State Department’s proposal to add the company to a trade blacklist. Despite the proposal, global investors have shrugged off the concerns as they bet on the rapid growth of Ant Group Co. to continue.

Ant is headquartered in the Chinese city of Hangzhou and is aiming to raise $17.2 billion in Shanghai and about the same in Hong Kong. Ant Group Co. is valued at about $313 billion overall.

Ant shares are expected to start trading on November 5, 2020, in Shangai and Hong Kong.

The price per share will start at roughly $10.32 in Hong Kong and $10.27 in Shanghai.

Justin Tang, head of Asian research at United First Partners in Singapore said, “the fear of missing out and the lack of other opportunities of this caliber” was a big reason for interest in this IPO.

Two Wall Street Wizards Spoon-Feed You THIS…

Imagine getting Wall Street rumors and news alerts every trading day … before the rest of the crowd hear about it.

Here’s the secret traders use to find stocks that are about to EXPLODE…

  • NOT a generic “newsroom” or chat hangout…
  • NOT something you’ll see on Yahoo Finance or Google News first…
  • NOT something you want everyone else to find out about…

Try it now for 14 days (for only $17)

STT Breaking News blog banner

Posts contain affiliate links. may get compensated for affiliate posts and purchases through links.