The long-anticipated IPO of Alibaba-affiliated Chinese fintech giant Ant Group could raise tens of billions of dollars in a dual-listing on both the Shanghai and Hong Kong exchanges. Shares for the company formerly known as Ant Financial are expected to price at around HK$80, or roughly 68 to 69 Chinese Yuan. The company is selling around 134 million shares in the Hong Kong portion of its debut, worth around $17.25 billion American dollars at HK$80 apiece. Given that the share sale is expected to raise a similar amount of money from its Shanghai listing, the company’s IPO could raise as much as $34.5 billion. That tally would make the debut the largest in history, besting the recent Aramco IPO that raised around $29.4 billion.
Techcrunch