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MarketScreener Homepage  >  Equities  >  Nyse  >  Alibaba Group Holding Limited    BABA

ALIBABA GROUP HOLDING LIMITED

(BABA)
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Ant to Raise More Than $34 Billion in Record IPO

10/26/2020 | 06:51am EST

By Stella Yifan Xie and Jing Yang

HONG KONG--China's Ant Group Co. is aiming to raise at least $34.4 billion in what is due to be the world's biggest-ever initial public offering, a deal that will cement its status as one of the most valuable companies in technology and finance.

The IPO adds to an already frenetic year for China's capital markets, which are enjoying a boom in share sales despite heightened tensions with the United States.

Ant is seeking to raise about $17.2 billion each in Shanghai and Hong Kong, based on prices of 68.8 Chinese yuan ($10.27) and 80 Hong Kong dollars ($10.32) respectively per share, according to regulatory filings. Ant could raise up to a maximum of about $5.2 billion more, if underwriters exercise their option to purchase up to 15% more shares in an arrangement known as a greenshoe.

Those sums would eclipse the $25 billion raised in 2014 by its former parent Alibaba Group Holding Ltd. and the $29.4 billion sold more recently by Saudi Aramco, in what is to date the largest-ever IPO.

The price values the Hangzhou-based group at about $313 billion, after including the new capital raised but before any greenshoe. In comparison, Mastercard Inc. was worth about $330 billion as of Friday's close. A private fundraising in 2018 valued Ant at $150 billion.

Its Hong Kong stock will start trading on Nov. 5, according to a filing with that city's stock exchange.

Write to Stella Yifan Xie at stella.xie@wsj.com and Jing Yang at jing.yang@wsj.com

(MORE TO FOLLOW) Dow Jones Newswires

10-26-20 0750ET

Stocks mentioned in the article
ChangeLast1st jan.
ALIBABA GROUP HOLDING LIMITED -0.45% 276.48 Delayed Quote.30.35%
MASTERCARD INCORPORATED -0.66% 339.07 Delayed Quote.14.31%
SAUDI ARABIAN OIL COMPANY 0.56% 35.9 End-of-day quote.1.84%
UNITED STATES DOLLAR (B) / CHINESE YUAN IN HONG KONG (USD/CNH) 0.00% 6.5734 Delayed Quote.-5.64%
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Financials
Sales 2021 699 B 106 B 106 B
Net income 2021 150 B 22 769 M 22 769 M
Net cash 2021 434 B 66 033 M 66 033 M
P/E ratio 2021 34,0x
Yield 2021 -
Capitalization 4 918 B 748 B 748 B
EV / Sales 2021 6,41x
EV / Sales 2022 4,79x
Nbr of Employees 122 399
Free-Float 99,7%
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Technical analysis trends ALIBABA GROUP HOLDING LIMITED
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Income Statement Evolution
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Mean consensus BUY
Number of Analysts 51
Average target price 2 270,61 CNY
Last Close Price 1 817,52 CNY
Spread / Highest target 43,4%
Spread / Average Target 24,9%
Spread / Lowest Target -1,87%
EPS Revisions
Managers
NameTitle
Yong Zhang Executive Chairman & Chief Executive Officer
John Michael Evans President & Director
Wei Wu CFO, Director & Head-Strategic Investments
Li Cheng Chief Technology Officer
Chung Hsin Tsai Executive Vice Chairman
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