Ant Group founder Jack Ma (PHOTO/BLOOMBERG)

Ant Group Co set the price of its record initial public offering in Shanghai on Friday evening, its billionaire founder Jack Ma said, without disclosing the price.

READ MORE: China greenlights Ant Group's IPO on STAR market

Ma’s Chinese fintech giant is one of the most hotly anticipated IPOs in years, on course to make history by surpassing Saudi Aramco’s record US$29 billion share sale in 2019. He commented on the pricing while speaking at the Second Bund Summit in Shanghai on Saturday.

It is the first time pricing of the initial public offering has been determined outside New York, he said.

Ant plans to list simultaneously in Hong Kong and on Shanghai’s STAR market.

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