Ant Group, biggest IPO ever, plans to raise $34.5B

Fox Business | Oct 26, 2020 at 6:09 PM
  • The world’s largest fintech company, China’s Ant Group, will try to raise nearly $35 billion in a massive public offering of stock that would shatter records.
  • 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.
  • Over the years, Ant has introduced more financial services, and now operates Alipay as a digital wallet which allows users in China to transfer money to others and pay for purchases both online and offline.