Stock Market

Who will get rich or richer from Ant group’s USD30 billion IPO

People visit a showroom of Ant Financial in China

Synopsis

A 1% stake could be worth USD2.2 billion. Alibaba Group Holding, controlled by Jack Ma, owns 32.65% of Ant’s Class A shares, while two employee holding partnerships together own 50.52%. Ant’s offshore employees hold about 8% of the company’s overseas shares. Through Class C shares, Alibaba and foreign investors hold the rest of the overseas shares.

By Denise JiaChinese fintech giant Ant Group Co. Ltd.’s blockbuster dual listing in Shanghai and Hong Kong will create a group of new billionaires among employees and will make a group of early investors even richer, including Jack Ma and his billionaire friends. Ant’s initial public offering prospectus unveiled a complex shareholding structure and a long list of more than 70 outside shareholders, showing how coveted the world’s highest-valued

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