ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print
Finance

China's Ant Group prices world's biggest IPO to raise $34.5bn

Retail investor mania for blockbuster listing in Hong Kong and Shanghai

HONG KONG -- Ant Group is set to raise about $34.5 billion in the world's largest initial public offering after setting the prices for a dual listing in Hong Kong and Shanghai that will thrust the Chinese fintech into the ranks of the world's most valuable financial institutions.

The company, controlled by billionaire Jack Ma, on Monday said it will sell shares at 68.8 yuan ($10.27) each in Shanghai to raise $17.14 billion, while it will offer shares in Hong Kong at 80 Hong Kong dollars ($10.32) per share to net $17.24 billion, before any overallotment options, according to filings.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more