The listing of financial technology company Ant Group (蚂蚁金服) could be the world’s largest initial public offering. Owned by Alibaba Group, Ant Group was formerly known as Ant Financial and Alipay and is the world’s highest-valued FinTech company and most valuable start-up.
The company will launch an IPO which is expected to value at $225 billion later this year, although speculations suggest it could take place as early as this month.
Ant Group’s flotation would normally have been eligible for the New York Stock Exchange or NASDAQ. However, due to US-China tensions, the listing will instead take place on the Hong Kong and Shanghai Stock Exchange.