Ant Group’s IPO Will Be the Biggest Ever

Caixin Global | Oct 26, 2020 at 8:06 PM
  • The 69 yuan price will likely set Ant Group up to raise some $17.3 billion in the Shanghai offering of up to 1.67 billion shares, and the same amount from its Hong Kong listing, excluding the overallotment option.
  • It also values the company at 48.1 times its earnings for the 12 months ended in June, much lower than the price-to-earnings (PE) ratio of Hong Kong-listed internet giant Meituan Dianping, which is over 400, and of Nasdaq-listed financial services giant PayPal Holdings Inc., which is over 100.
  • Built on the foundation of Alipay, the payment platform that Alibaba set up in 2004, Ant Group has grown into a juggernaut that owns the world’s largest payment service and the biggest money-market fund platform.