China’s Ant Group could raise nearly £26.5bn in record share offering

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China’s Ant Group Could Raise Nearly £26.5Bn In Record Share Offering
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By AP Reporters

China’s Ant Group will try to raise nearly £26.5 million in its initial public offering in Shanghai and Hong Kong, which would make it the largest share offering in history.

Alibaba-affiliated Ant Group, which operates a suite of financial products including the widely-used Alipay digital wallet in China and one of the world’s largest money market funds, will hold dual listings in Shanghai and Hong Kong.

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Its Shanghai stock was priced at 68.8 yuan (£7.87) each, while its Hong Kong stock is priced at 80 Hong Kong dollars apiece (£7.92), according to filings on Monday.


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The company will raise around £26.5 billion from the share offering, which is expected to surpass oil company Saudi Aramco’s £22.3 billion share sale last year, making Ant Group’s offering the biggest in the world.

Ant Group would be valued at around £215 billion. If the company exercises its over-allotment option, which would allow it to sell more shares than initially planned, it could raise another £4 billion, taking its valuation to around £245 billion.

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