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Finance

Jack Ma's Ant Group sets aim for world's largest IPO

Alibaba affiliate files for stock sale on HKEX and STAR Market, targeting $30bn

HONG KONG -- Ant Group, Alibaba's financial technology affiliate and operator of China's largest digital payment network, has filed to sell shares on the Hong Kong Stock Exchange and Shanghai's STAR Market in what is shaping up to be the world's largest-ever initial public offering.

Ant, which carries a valuation of $200 billion and is the world's most valuable fintech company, will sell at least a 10% stake, split between the two markets, it said in filings to the two exchanges on Tuesday.

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