World's largest IPO: Jack Ma Ant Group worth more than GDP of Egypt and Finland

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New Delhi, Saturday 31st October 2020

Investors have received orders worth 3 3 trillion to list Chinese billionaire businessman Jack Ma Alibaba-owned Ant Group in Hong Kong and Shanghai, which is equivalent to Britain's GDP. Ant Financial aims to raise .4 34.4 billion, or Rs 2.54 lakh crore, through the IPO.

Bidding in Hong Kong is so overwhelming that a brokerage platform has had to shut down for some time, with demand in the Shanghai retail category seen 870 times more than supply, the world's largest IPO, although the record is currently held by Saudi Arabia's state-owned oil company Aramco. Alibaba became the largest IPO company in 2014, raising 25 25 billion.

Institutional investors have placed 76 76 billion in orders for Ant's IPO, which is 284 times the public offering, according to the Shanghai Filing. Brokers are willing to lend more than 20 times their investment to retail investors for the company's IPO, with some experts saying it carries heavy risk. This is because the US presidential election, the tightening of rules in China and the growing case of Corona around the world could hurt investors.

Ant Group's market valuation is higher than that of JPMorgan and Bank of America, even larger than PayPal Holdings (8 238 billion) and Walt Disney (8 238 billion), three times larger than IBM Corp and four times larger than Goldman Group. With a market value of about 5 315, the company is valued at more than the GDP of Egypt (30 303 billion) and Finland (9 269 billion).

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