Jack Ma’s newest venture is planning a $200 billion IPO — and it could be the largest public offering in history

Jack Ma's newest venture is planning a $200 billion IPO — and it could be the largest public offering in history

  • Chinese fintech giant Ant Group is preparing a dual public offering in Shanghai and Hong Kong, the company announced Monday.
  • Ant is the parent company of Alipay, and was founded by billionaire Alibaba cofounder Jack Ma. Its public offering would bypass a New York listing as tensions rise between the US and China.
  • The company is reportedly seeking a $200 billion valuation, which could make it one of the largest public offerings in history.

Ant Group, the Chinese fintech firm founded by billionaire Jack Ma, is preparing dual public offerings in Shanghai and Hong Kong, the company announced Monday.

With a reported valuation of $150 billion, Ant — which owns popular fintech platform Alipay — is one of the most valuable unicorns in the world. Sources told The Wall Street Journal and Bloomberg that Ant will seek a $200 billion valuation for its IPO, which could be one of the most valuable public offerings in history.

Ant’s dual listing would bypass a public offering in New York as geopolitical tensions rise between the US and China. Washington recently imposed sanctions on China after it implemented a far-reaching national security law in Hong Kong, and US lawmakers have moved to kick Chinese companies off US stock exchangesunless they submit to audits.

Ant has not clarified a timeline for its public offering. The firm said in a statement that the listings “will help the company accelerate its goal of digitizing the service industry in China and driving domestic demand.”

“Becoming a public company will enhance transparency to our stakeholders, including customers, business partners, employees, shareholders and regulators. Through our commitment to serving the under-served, we make it possible for the whole of society to share our growth,” executive chairman Eric Jing said.

Alibaba, the popular web retailer also founded by Ma, owns 33% of Ant’s shares. Alibaba had one of the largest public offerings in history at the time with a $25 billion valuation. Its market capitalization has since grown to roughly $660 billion.

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