You’ve probably heard the news by now that the Ant Group, the Chinese fintech unicorn run by Jack Ma is set to do an IPO.  This is great and all, but what’s with that name? 

Anyways, we’ve put together the highlights for you all in one neat and tidy bullet point list:

1. It’s the biggest IPO of all time, raising a record $34.5 billion.

2. It’s the gorilla in the room. The estimated valuation of $313 billion makes it bigger than Goldman Sachs.

3. This is Jack Ma’s second gig. Remember Alibaba?  They went public in 2014 and raised $25 billion.  His stake in Ant Group will make him the 11^th richest person in the world. 

4. U.S. stock exchanges asleep at the wheel. It’s listed on the Hong Kong and Shanghai stock exchanges. 2 of the top 3 biggest IPOs have now been done outside the U.S.  Saudi Aramco raised $29 billion and listed on the local exchange, the Saudi Tadawul.  In case you’re wondering, the 3^rd biggest was Alibaba in 2014 which listed on the NYSE.

And finally, this nugget which didn’t make the bullet point list:

It’s not a SPAC deal. :)