Exclusive | What is Jack Ma’s Ant Group really worth as it markets the world’s largest ever IPO? Key analysts say US$350 billion to US$450 billion
- Ant has kicked off its digital IPO roadshow in Asia, Europe and the United States this week
- Sum-of-the-parts methodology does not capture the value of the interplay between Ant’s businesses
Key to unlocking Ant’s value will be an understanding of its business model, figuring out how its units interact with each other, and gauging its growth potential.
The core group of bankers orchestrating the share sale are sending research to investors this week pegging Ant’s near-term valuation roughly between US$350 billion and US$450 billion, including the money it is raising in the IPO, according to people familiar with the matter.
At the high end of that range, the fintech giant will eclipse JPMorgan Chase’s market capitalisation of US$391 billion, or, on a different scale, it will top the size of the economy of either Nigeria or Austria.
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Ant Group poised to be world’s biggest private firm making public debut, with Hong Kong-Shanghai IPO
Ant has kicked off its digital IPO roadshow and is deep in discussions with investors in Asia, Europe and the United States this week.
Most already know Ant as an affiliate of e-commerce giant Alibaba Group Holding, and some of them have already backed Ant during private funding rounds. They are getting comfortable with a valuation range of roughly between US$350 billion and US$390 billion post-money, the people said.