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Ant Group sets IPO pricing

Ant Group sets IPO pricing

Chinese fintech giant Ant Group has set the price for its upcoming initial public offering, which is expected to raise a record $34 billion.

Speaking at a conference over the weekend, founder Jack Ma said the pricing for the Shanghai part of the dual-listing has been determined. He did not reveal the amount, although details are expected to arrive on Tuesday.

Meanwhile, the price for the Hong Kong part of the listing is expected to revealed later in the week ahead of the listing early next month.

"This was the first time such a big listing, the largest in human history, was priced outside New York City," Ma said at the Bund Summit. "We wouldn't have dared to think about it five years, or even three years ago."

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