Jack Ma’s Ant Group Raises IPO Valuation Target to $280 Billion

(Bloomberg) — Ant Group plans to increase the valuation target for its initial public offering to at least $280 billion due to strong demand, charging ahead with the sale even as the Trump administration weighs restrictions on the Chinese fintech giant, according to people familiar with the matter.The Hangzhou-based company is lifting the target by at least 12% from a previous estimate of $250 billion after initial discussions with investors, the people said, requesting not to be identified because the matter is private. Ant aims to raise about $35 billion in the sale, people familiar said.Despite the U.S. headwinds, Jack …read more

Source:: Yahoo Finance


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