The New Paper

October 27, 2020

Ant group prices IPO, set to be largest in history

China-based financial technology company Ant Group is set to raise ~$35B in its upcoming initial public offering based on pricing information released yesterday. If finalized, the offering would represent the largest amount of capital ever raised in an IPO, outpacing the $29B raised by oil giant Saudi Aramco last year.

More context: Ant Group is a former Alibaba subsidiary that operates a wide range of financial and technology products including Alipay, a payments platform with over 1.3B users worldwide.

This story is from the October 27, 2020 edition of The New Paper – a clear, concise daily briefing that makes fact-first news easy to consume. Try it today.