Ant Group, the fintech behemoth that’s about to launch what could be the biggest public listing ever, is looking to raise its IPO target to USD 35 billion from the previous USD 30 billion after assessing early investor interests, Bloomberg reported citing an anonymous source.
Valuation of the Alibaba (NYSE: BABA; HKEX: 9988) affiliate has also been lifted from USD 225 billion to USD 250 billion, said the same report.
The Hangzhou-based third-party payment and technology giant is currently in the process of applying for a Shanghai-Hong Kong dual listing. Last Friday, The committee of the Shanghai Stock Exchange Science and Technology Innovation Board has given the green light for Ant Group to proceed with the IPO.
More on Ant Group please read: BIZ IN GRAPHICS | Ant Group to launch what could be the world’s biggest IPO soon
This article is part of KrASIA’s “Key Stat” series, where KrASIA picks and presents the most significant figures of the day’s technology and business world.