IPO That Might Rock the WorldEndy Callahan
Jack Ma’s Ant Groups is about to file a thirty billion USD IPO. This, according to the latest news agencies’ reports, is going to take place in Hong Kong. Their other destination is Shanghai. Crypto market analysts find it of utmost importance to keep track of this event and let the rest of the crypto community know about the nuances and details of what China’s Ant Group is doing at the moment. Specialists state that the team is fully prepared to file one of the most impressive IPOs in history.
Many crypto enthusiasts might already know that the financial affiliate of the firm is a part of Alibaba, which is an e-commerce giant that is widely known all across its native country as well as all around the planet. The group has already decided to file an IPO and there are two destinations the process is going to take place. Currently, the group’s filing can be seen in Hong Kong and Shanghai.
Jack Ma is the co-founder of the famous service. That’s the person who created Ant Group as well – at present, many professionals state that the man is willing to target a valuation of approximately two hundred and twenty-six billion USD. This would base on a target offering raise of around thirty billion USD. Individuals who are familiar with the matter report that the new offering could turn into the most massive deal in history.
It might also potentially overtake the impressive record that was set by UAE’s multinational giant trading oil and gas. As many participants can still remember, Saudi Aramco managed to raise approximately twenty-nine billion USD previously this year. News agencies report that the target valuation is likely to match the market capitalization displayed by the Bank of America. All in all, the new offering might be twice as larger as that of Citigroup.
Institutions Involved in the Matter
Group’s offering filed in Hong Kong will be processed by several leading organizations. The list includes three major parties and one of them is Morgan. At the same time, the offering in Shanghai is going to be managed by a few key investment banking corporations. These are all local firms, according to the latest information received from Chinese official representatives.
Executives of the team have recently pointed out that all members believe they would manage to raise forty-eight billion Yuan in Shanghai, which is around seven billion USD. The brand intends to employ the offering proceeds in order to widen payment options as well as promote its research projects and analyze potential capabilities for further development. Experts mention that the firm has been following all changes and transformations in the blockchain sphere and kept creating its own blockchain solutions for the past five years.
Last year the executives launched a new solution based on blockchain technology that can blend AI with other elements and compounds. More than that, Ant Group takes pride in its Ant Blockchain Open Alliance that is based on the requirements set by enterprises.
Alipay’s recent statistics prove the total volume of transactions two months ago approached one hundred and eighteen trillion Yuan. This makes around seventeen trillion USD and the process lasted for less than twelve months. The company had over one billion users and seven hundred and eleven million active users who employed their services every month.
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