News Flash: Ant Group Intends to Fetch US$30B in A+H Listing, IPO in Sep Soonest: Report

Ant Group, a subsidiary of BABA-SW (09988.HK) intended to fetch approximately US$30 billion through A+H listing, Caixin reported. 

If the fundraising amount was nailed, Ant Group's IPO will topple Saudi Aramco's US$29.4 billion.

With the listing preparation under brisk processing, Ant Group was expected to begin IPO arrangement in September or October, the report added.

Source: AAStocks

This is currently touted as the largest IPO ever, even exceeding Saudi Aramco that went public on Dec 2019. Its interesting to see as Alibaba has a 33% stake in Ant Financial and apart from Alibaba listed in both NYSE and HKEx, Alibaba also owns Alibaba Health through its subsidiary Ali JK which holds 30.79% of Alibaba Health. 

Behind the scene before Jack Ma retired, we can see that he has multiple businesses across his parent company and has consistently acquired more businesses before he handed the reins over to Daniel Zhang. 

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