Currently, Ant Group is a “giant” in the Chinese electronic payment market, operating Alipay, one of the two “dominant” online payment systems in China.
According to a recent report, Ant Group, the financial technology company of the Chinese e-commerce group Alibaba, is planning the largest IPO in history and is expected to raise up to 35 billion USD when listed at Shanghai stock market and Hong Kong.
Technology company The aforementioned will not look for key investors – large organizations agree to hold shares for a long time to create confidence and stability in newly listed stocks.
Here is the signal Ant Group quite believe in this company’s plan to sell shares.
Ant Group is looking to raise cash – much higher than the $ 29 billion that Saudi Aramco oil group of Saudi Arabia collected in December last year, Bloomberg reported, citing unnamed sources. The company is targeting a valuation of around $ 250 billion.
Currently, Ant Group is the “giant” in the Chinese e-payment market, operating Alipay, one of the two dominant online payment systems in China, a country where cash, checks and Credit cards have long been dominated by electronic payment devices and applications.
After getting approval from the Shanghai Stock Exchange to list last week, Ant Group is looking to list on the Hong Kong Stock Exchange early next week, with a launch scheduled for October.
Ant Group said it will use the proceeds to expand cross-border payments and enhance its research and development capabilities.
According to observers, Ant Group’s decision not to list in New York was a big blow to the US markets. But this decision came as Washington increased its oversight of Chinese companies, especially technology ones.