Alibaba's financial services spinoff, which counts China Life and China Post as investors, has reportedly set a target for a dual offering that would be the largest in history.
Ant Group, the financial services affiliate of e-commerce group Alibaba, is seeking $30bn in its initial public offering, Caixin reported yesterday, citing sources with knowledge of the matter.
The $30bn figure would make the offering the largest IPO of all time, surpassing the $25bn raised by Alibaba itself in 2014 and the $29.4bn flotation for oil and gas provider Saudi Aramco in December 2019.
The prospective IPO would consist of $20bn of shares issued on the Hong Kong Stock…
