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.
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