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Alibaba's Ant targets largest-ever $30bn IPO: report

Chinese fintech giant seeks to raise more than Saudi Aramco

Ant runs Alibaba's mobile wallet, Alipay, and offers financial products to Alipay users.   © Reuters

SHANGHAI -- Ant Group, the fintech affiliate of Chinese e-commerce leader Alibaba Group Holding, is looking to raise a record $30 billion in its planned IPO, Chinese financial and business news media group Caixin reported on Monday.

According to "sources with knowledge of the matter" quoted by Caixin, Ant is planning to sell 10% of the shares in Shanghai and 5% in Hong Kong.

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