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Stock Alert: Alibaba Group Rising On Ant Financial IPO Plan

July 20, 2020 — 11:06 am EDT

Written by RTTNews.com for RTTNews ->

(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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Founded in the late 1990s by Andrew Mariathasan in New York, with the goal of covering Wall Street for a new generation of investors, RTTNews has expanded steadily over the years to become a trusted provider of content for a wide array of subjects across several platforms. RTT's Financial Newswire is relied upon by some of the world's largest financial institutions, including banks, brokerages, trading platforms and financial exchanges.
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