Markets

Stock Alert: Alibaba Group Rising On Ant Financial IPO Plan

(RTTNews) - Alibaba Group Holding Ltd. (BABA) shares are trading higher on Monday as its financial services arm Ant Financial is planning a dual listing on Hong Kong stock exchange and Shanghai stock exchanges. The initial public offering is expected to be one of the biggest in 2020.

Alibaba holds 33 percent ownership in Ant Group. The financial and travel services provider had a valuation of $150 billion in 2018, when it went for a private fundraising.

BABA is currently at $253.69, up 2.68 percent from its previous close of $247.14

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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