HONG KONG (Bloomberg) -- Billionaire Jack Ma’s Ant Group is seeking a valuation north of US$200 billion as it goes public in Hong Kong and Shanghai, people familiar with the matter said, kicking off a landmark coming-out party for China’s leader in internet finance.
The parent of China’s largest mobile payment company will pursue a simultaneous dual-listing in Hong Kong and on the Shanghai stock exchange’s STAR board, the Hangzhou-based firm said, in what promises to be one of the largest debuts in years.
Ant is already more richly valued than most Wall Street firms and, if conditions are favorable, it could seek to raise more in its IPOs than Saudi Aramco’s record US$29 billion haul, one of the people said, asking not to be identified talking about a private deal.
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