Ant Group IPO pricing ‘history’s largest’, says Alibaba’s Jack Ma

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The mammoth dual listing for Chinese biotech giant Ant Group will be the world’s biggest, according to a pricing determined on Friday night, Alibaba founder Jack Ma said on Saturday. “It’s the first time that the pricing of such a big listing — the largest in human history — has been determined outside New York City” he told the Bund Summit in the eastern financial hub of Shanghai. “We didn’t dare to think about it five years ago, or even three years ago. But a miracle just occurred,” he told the audience, which included officials from China’s regulators. He did not give exact details of the pricing which is expected to be officially announced next week. Backed by Chinese e-commerce giant Alibaba, Ant plans to list simultaneously in Hong Kong and on Shanghai’s STAR Market in the coming weeks.

Source: https://www.arabnews.com/node/1753611/business-economy


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