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Ant Raising $34.5B In Largest IPO Ever
China-based fintech giant Ant Group is raising $34.5 billion in what reportedly ranks as the largest IPO ever.
The company set share prices for its offering Monday, with listings planned on Shanghai and Hong Kong exchanges. The offering will reportedly set an initial valuation of around $313 billion for Ant.
Ant Group is expected to start trading in Hong Kong on Nov. 5, according to a regulatory filing. The company has not disclosed when its Shanghai shares will begin trading.
Funding roundsChina’s VSPN raises $100M for esports: China-based VSPN, a provider of esports offerings including tournaments, content, and marketing, raised around $100 million in a Series B round led by Tencent. PrimaryBid lands $50M: London-based PrimaryBid, an online platform that connects individual investors with public companies raising capital, has secured $50 million in Series B funding. Backers include London Stock Exchange Group, Draper Esprit, OMERS Ventures, Fidelity International Strategic Ventures and ABN AMRO Ventures.
Illustration: Dom Guzman