Not the biggest IPO in history? The Shanghai Stock Exchange gave Jack Ma a tweak - Newztezz Online


Wednesday, November 4, 2020

Not the biggest IPO in history? The Shanghai Stock Exchange gave Jack Ma a tweak

New Delhi:
 In recent days, there have been reports that the Chinese company is set to launch the largest IPO in its financial history. Now, reports have surfaced that the Shanghai Stock Exchange has suspended Ant Financial's IPO. China's Ant Group was planning to raise about 35 35 billion through an IPO.

It is said to be the largest IPO in history if that happens. Alibaba Group company St. was planning to list its shares in the Shanghai and Hong Kong markets. Notably, Chinese regulators recently sent Jack Mann summons questioning the IPO.

Ant manages many types of financial services. It also has China's Alipay digital wallet. It is one of the largest money market funds in the world. The company aimed to raise 34 34.5 billion through an IPO. That's more than last year's વેચાણ 9 billion stake sale offer by petroleum company Saudi Aramco. In this way, Antono's IPO could become the world's largest share sale offer.

The Alibaba-owned Ant Group has a market value of about 5 315 billion. The company is valued more than the GDP of Egypt (30 3030 billion) and Finland (9 269 billion). In 2014, Alibaba became the largest IPO-bringing cup. Alibaba Group raised 25 25 billion from the IPO in 2014. According to a Bloomberg report, Ant Group's market valuation is even higher than that of JPMorgan Chase & Company and Bank of America. Jack Ma Ant Financial, who started the Alibaba Group for about 60 60,000, could become the 11th richest person in the world after a public listing. Jack Mani has a total stake of 8.8 per cent in the company.

Shares of Ant Financial were set at 68.8 yuan on the Shanghai Exchange and 80 Hong Kong dollars in Hong Kong. Institutional investors have ordered 76 billion shares in Ant Financial's IPO.

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