Jack Ma's newest venture is planning a $200 billion IPO — and it could be the largest public offering in history

  • Chinese fintech giant Ant Group is preparing a dual public offering in Shanghai and Hong Kong, the company announced Monday.
  • Ant is the parent company of Alipay, and was founded by billionaire Alibaba cofounder Jack Ma. Its public offering would bypass a New York listing as tensions rise between the US and China.
  • The company is reportedly seeking a $200 billion valuation, which could make it one of the largest public offerings in history. 
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Ant Group, the Chinese fintech firm founded by billionaire Jack Ma, is preparing dual public offerings in Shanghai and Hong Kong, the company announced Monday.

With a reported valuation of $150 billion, Ant — which owns popular fintech platform Alipay — is one of the most valuable unicorns in the world. Sources told The Wall Street Journal and Bloomberg that Ant will seek a $200 billion valuation for its IPO, which could be one of the most valuable public offerings in history.

Ant's dual listing would bypass a public offering in New York as geopolitical tensions rise between the US and China. Washington recently imposed sanctions on China after it implemented a far-reaching national security law in Hong Kong, and US lawmakers have moved to kick Chinese companies off US stock exchanges unless they submit to audits.

Ant has not clarified a timeline for its public offering. The firm said in a statement that the listings "will help the company accelerate its goal of digitizing the service industry in China and driving domestic demand."

"Becoming a public company will enhance transparency to our stakeholders, including customers, business partners, employees, shareholders and regulators. Through our commitment to serving the under-served, we make it possible for the whole of society to share our growth," executive chairman Eric Jing said.

Alibaba, the popular web retailer also founded by Ma, owns 33% of Ant's shares. Alibaba had one of the largest public offerings in history at the time with a $25 billion valuation. Its market capitalization has since grown to roughly $660 billion.

Get the latest Alibaba stock price here.

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