On the afternoon of August 25, Alibaba’s US shares rose 1.08% before trading. Ant group today submitted its IPO documents to the Shanghai Stock Exchange and the Hong Kong Stock Exchange at the same time.
According to ant group’s IPO documents, Alibaba group holds 33% of ant group’s shares. At the same time, Ma Yun holds no more than 8.8% of his own shares. He also announced that he would donate 610 million shares of ant shares for public welfare, which is equivalent to 2% of the total equity of ants after its issuance.