Chinese fintech company Ant Group poised to break IPO record by raising $34.5B

0
350

We didn’t dare think about it five years, or even three years ago,” Ma said. Ant Group’s IPO is a big win for Alibaba and the Chinese economy, as its technology firms continue to reach astronomic valuation metrics. While Chinese tech has yet to reach the net values of Amazon, Apple, or Google, they are certainly on the rise.

The last IPO of mammoth proportions was Saudi Aramco’s initial shale offering which raised $29 billion. 2020 has been a year of record-breaking market activity, even in lieu of the COVID-19 pandemic which has dampened the global market.

—————————————-

Have a story you want USA Herald to cover? Submit a tip here and if we think it’s newsworthy, we’ll follow up on it.

Want to contribute a story? We also accept article submissions – check out our writer’s guidelines here.