Ant

How China’s Ant is evolving from a payments app into a technology champion

This is the second in a series of four articles analysing the Hong Kong and mainland stock markets, delving into the reforms, emergence of the Star Market as a solid fundraising venue, upcoming technology champions and the way forward. You can read part one here.

When Starbucks was looking to boost its digital traffic in China to help sales recover from store closures prompted by the coronavirus pandemic, it turned to Alipay.

The Chinese mobile app with 900 million users scattered across the nation integrated a pre-order and pickup feature for Starbucks into its popular app last month, a service that was previously only available on Starbucks’ own mainland mobile app. The Seattle-headquartered chain of coffeehouses said on July 28 that it sees its China sales substantially recovering by the end of September, boosted by such digital initiatives.

Ant Group, the operator of Alipay, is preparing an initial public offering … Read More

Jack Ma’s Ant Seeks $200 Billion Value in Landmark Dual IPO

(Bloomberg) —

Billionaire Jack Ma’s Ant Group is seeking a valuation north of $200 billion as it goes public in Hong Kong and Shanghai, people familiar with the matter said, kicking off a much-anticipated market debut for China’s leader in internet finance.

The parent of China’s largest mobile payment company will pursue a simultaneous dual-listing in Hong Kong and on the Shanghai stock exchange’s STAR board, the Hangzhou-based firm said, in what promises to be one of the largest debuts in years. Ant is already more richly valued than most Wall Street firms and, if conditions are favorable, it could seek to raise more in its IPOs than Saudi Aramco’s record $29 billion haul, one of the people said, asking not to be identified talking about a private deal.

The crown jewel of the sprawling Alibaba empire, Ant has been accelerating its evolution into an online mall for everything from

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Ant Group – the $200bn technology titan you’ve never heard of

 Jack Ma, founder and CEO of the Alibaba Group - Jacques Brinon /Earns Alibaba
Jack Ma, founder and CEO of the Alibaba Group – Jacques Brinon /Earns Alibaba

He is known for his lavish parties and eccentric tastes. In the past Jack Ma, the 55 year-old billionaire founder of Chinese e-commerce giant Alibaba, has attended the group’s annual company festivals dressed up as a punk rocker or as Michael Jackson.

But the public float of his second company, Ant Group, could turn out to be his biggest extravaganza yet.

The forthcoming listing of the payments firm, which was announced on Monday, is expected to value it at $200bn (£158bn) – making it easily the most valuable listing of 2020 anywhere in the world.

Ant Group, formerly Ant Financial, provides mobile payments services across China and further afield with 1 billion users. Its products include mobile payments apps, backend payment services and digital wallets and is the market leader in China’s $16tn digital payments industry.

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