10.5 C
London
Tuesday, November 24, 2020

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

Must read

French minister orders probe into police who forced migrants from Paris camp

France’s interior minister ordered an internal police investigation after officers were filmed tossing migrants out of tents while evacuating a protest camp in Paris. Aid...

India bans scores of apps including many from China

India banned 43 mobile apps, including many from China, with which it is locked in a military standoff along their border in the Himalayas. India’s...

Welsh firm creates jobs in West Virginia in ‘clean energy’ scheme

A UK technology company plans to build a new facility in the US state of West Virginia that officials said is expected to create...

Malaysia virus outbreak delays production at world’s top glove maker

The world’s largest rubber glove maker said it expects distribution delays of up to four weeks after more than 2,000 workers at its factories...

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.

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.

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.

- Advertisement -

More articles

This site uses Akismet to reduce spam. Learn how your comment data is processed.

- Advertisement -

Latest article

French minister orders probe into police who forced migrants from Paris camp

France’s interior minister ordered an internal police investigation after officers were filmed tossing migrants out of tents while evacuating a protest camp in Paris. Aid...

India bans scores of apps including many from China

India banned 43 mobile apps, including many from China, with which it is locked in a military standoff along their border in the Himalayas. India’s...

Welsh firm creates jobs in West Virginia in ‘clean energy’ scheme

A UK technology company plans to build a new facility in the US state of West Virginia that officials said is expected to create...

Malaysia virus outbreak delays production at world’s top glove maker

The world’s largest rubber glove maker said it expects distribution delays of up to four weeks after more than 2,000 workers at its factories...

Pennsylvania certifies Joe Biden and Kamala Harris as poll winners

Democrat Joe Biden has been certified as the winner of the presidential election in Pennsylvania, the US state’s governor said. Governor Tom Wolf, a Democrat,...
%d bloggers like this: