Ant Group sets IPO price

In this Friday, Oct. 23,2020, photo, an employee walks past a logo of the Ant Group at their office in Hong Kong. The world's largest fintech company, China's Ant Group, will try to raise nearly $35 billion in a massive public offering of stock that would shatter records. - AP

HONG KONG: Ant Group, the parent company of China’s leading mobile-payment business Alipay, announced its initial public offering (IPO) on the Hong Kong stock exchange (HKEX) starting yesterday, and plans to list its shares on Nov 5.

The company will offer over 1.67 billion shares at a price of 80 Hong Kong dollars apiece, and is set to raise around 132 billion Hong Kong dollars, according to its prospectus submitted to the HKEX.