Richest Man in China

Jack Ma, owner of China's Alibaba company, is set a world record initial investment of 34$ billion with the sale of 11% stake in Brick (اینٹ), another company .

The financial services provider of Chinese billionaire Jack Ma, who previously sold shares of e-commerce company Ali baba for 25$ billion in 2014.

Such a record sale in the world has started from the stock markets of Shanghai and Hong Kong instead of the stock markets of New York. The sale of Brick's shares is expected to generate 34.4$ billion in revenue.

The financial leaders of Aint had determined the price of the company's shares on the basis of stock market reports that financial institutions have shown great interest in investing in the company.

In the Shanghai and Hong Kong stock markets, Aint's shares have been priced at the initial public investment (or IPO) level, which means that in the current situation, the price of these shares may rise further.

IPO is an initial public offering or sale of shares of a company in the stock market that is usually made directly to the investment financial institutions and this stage precedes the sale and purchase of shares in the stock market. This is called a 'listing'.

Individual investors are usually given the opportunity to participate in this investment, but it is not necessary. One or more investment financial institutions guarantee the value of what is called 'underwriting'.

The biggest IPO record of this type was the sale of 11% stake in Saudi state-owned oil company Aramco for 29.4$ billion in December last year.

Jack Ma, the owner of the Ali baba company, has 17$ billion worth of shares in Brick, bringing his total assets to 80$ billion, making him the richest man in China.