yahoo Jack Ma Says Ant Group Has Set Pricing for Its Record IPO

[Mistio]

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The stock sale by Ma’s finance giant is one of the most hotly anticipated IPOs in years, on course to make history by surpassing Saudi Aramco’s record $29 billion share sale in 2019. Large investors have put in bids of about 68 to 69 yuan a share for the Shanghai stock, Reuters reported. That would value the China portion of the sale at as much as $17.3 billion, or close to $35 billion for the dual listing including the Hong Kong leg.

 

 

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[UltraMega]

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Ant runs Alipay, the dominant online payment system in China, where cash, cheques and credit cards have long been eclipsed by e-payment devices and apps. As well as owning Alipay, which is estimated to have more than one billion users, Ant also offers wealth management, insurance and money transfer services.

Sounds like Ant is like paypal or venmo. Makes sense that something like that with some a successful person behind it like Jack Ma would become huge. Lots of customers over there.