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Alibaba’s Ant plans Hong Kong IPO, targets valuation over $200 billion

Alibaba’s Ant plans Hong Kong IPO, targets valuation over $200 billion

Alibaba’s fintech affiliate, Ant Group, is planning a Hong Kong IPO this year, looking at selling 5% to 10% of its shares, targeting a valuation of more than $200 billion, Reuters reported. Following the news, Alibaba’s US traded shared surged 8.95% Wednesday. Ant is based in China’s eastern city of Hangzhou, and is 33% owned by Alibaba Group.

KCooper
KCooper
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