business

China’s Ant Group prices Shanghai IPO at 68.8 yuan

HANGZHOU, Oct. 26 (Xinhua) — China’s Ant Group on Monday set the price for its initial public offering (IPO) on the Shanghai Stock Exchange at 68.8 yuan (about 10.26 U.S. dollars) per share, according to the official website of the stock exchange.

The group’s mega dual-listing on the Shanghai Stock Exchange and the Stock Exchange of Hong Kong is believed to be the world’s biggest IPO ever.

The group also set the price for the Hong Kong stock exchange at 80 HKD (about 10.32 U.S. dollars) per share.

Ant has a market value of 2.1 trillion yuan (about 318.5 billion U.S. dollars) based on its IPO price.

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