<p>Ant Group Co. set the price of its record initial public offering in Shanghai on Friday evening, its billionaire founder Jack Ma said, without disclosing the price.</p>.<p>Ma’s Chinese fintech giant is one of the most hotly anticipated IPOs in years, on course to make history by surpassing Saudi Aramco’s record $29 billion share sale in 2019. He commented on the pricing while speaking at the Second Bund Summit in Shanghai on Saturday.</p>.<p>The company may raise about $35 billion in Hong Kong and Shanghai combined, plus another $5 billion after it exercises so-called greenshoe options, people familiar with the matter have said, adding the numbers are subject to change. That would give Ant a valuation of around $320 billion, making it bigger than JPMorgan Chase & Co.</p>.<p>-With assistance from Zhang Dingmin.</p>
<p>Ant Group Co. set the price of its record initial public offering in Shanghai on Friday evening, its billionaire founder Jack Ma said, without disclosing the price.</p>.<p>Ma’s Chinese fintech giant is one of the most hotly anticipated IPOs in years, on course to make history by surpassing Saudi Aramco’s record $29 billion share sale in 2019. He commented on the pricing while speaking at the Second Bund Summit in Shanghai on Saturday.</p>.<p>The company may raise about $35 billion in Hong Kong and Shanghai combined, plus another $5 billion after it exercises so-called greenshoe options, people familiar with the matter have said, adding the numbers are subject to change. That would give Ant a valuation of around $320 billion, making it bigger than JPMorgan Chase & Co.</p>.<p>-With assistance from Zhang Dingmin.</p>