Ant Group plans IPO in Shanghai, Hong Kong

Tuesday 21 July 2020 13:31 CET | News

Ant Group has announced plans for an initial public stock offering (IPO) that could become the world’s biggest since the COVID-19 pandemic began.

According to Spectrum News 1, the company, which was valued at USD 150 billion after a 2018 private fundraising round, gave no indication on how much money it hopes to raise in the joint offering in Hong Kong and Shanghai. 

Ant Group will list on the Shanghai Stock Exchange’s (SSE) STAR board and on the Hong Kong Stock Exchange. Moreover, a public offering in Hong Kong would also give foreign investors the opportunity to own a piece of the China-based online payments player.

Moreover, Ant Group runs the private credit rating system Sesame Credit and mobile payments service Alipay, which was founded in 2004 to serve as an escrow system between buyers and sellers on its Taobao ecommerce platform. Alipay was later transformed into Ant Financial and renamed itself as Ant Group in June 2020. 

More: Link

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: Ant Group, IPO, Shanghai, Hong Kong, fundraising round, Shanghai Stock Exchange, Hong Kong Stock Exchange, online payments, private credit rating system, Sesame Credit, Alipay, Taobao, ecommerce
Categories: Payments & Commerce
Countries: World
This article is part of category

Payments & Commerce