Ant Group IPO filing shows its might

by Raphael Stevens 27 August 2020, 15:01 169 Views

ANTS ARE normally small but mighty. This one is big but sprightly. On August 25th Ant Group, a Chinese financial-technology company, filed for a joint listing in Hong Kong and Shanghai, targeting a valuation of more than $200bn. It began life as Alipay, a payment service on Alibaba’s e-commerce platforms. It then launched China’s go-to app for mobile payments and has since grown into a major conduit for loans and investments. One thing is unchanged: Jack Ma, Alibaba’s founder, still controls it.■

This article appeared in the Finance & economics section of the print edition under the headline “Ant Group IPO filing shows its might”

Source: Finance - economist.com

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Ant Group IPO filing shows its might

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