Jack Ma\u2019s Ant Group is planning to create one of the largest IPO in history. The IPO will be just behind the Alibaba and Saudi Aramco\u2019s IPO, according to the Reuters reports.<\/p>\n
Ant Group is best known for Alipay<\/a>, one of the successful digital payment networks in China. It is seeking a market valuation of $200 billion much ahead of the financial giant Goldman Sach\u2019s $75 billion market valuation.<\/p>\n Reports say that the IPO will be dual-listed in Hong Kong and Shanghai\u2019s Star Board exchange. <\/a>The group has already changed the registered name from Ant Financial Services Group to Ant Group Co. to support the duel listing.<\/p>\n In the fourth quarter, Ant Group generated $2 billion<\/a> in profit thanks to the massive success of Alipay in China.<\/p>\n It is targeting the local merchants and financial firms to gain revenue in the form of tech service fees. The tech services include cloud computing, blockchain, artificial intelligence, etc.<\/p>\n According to the study of iResearch<\/a>, Alipay (55.1%) and Tencent (38.9%) had the most mobile payment shares in December 2019.<\/p>\n\n
\u201cThe innovative measures implemented by SSE STAR market and the SEHK have opened the doors for global investors to access leading edge technology companies from the most dynamic economies in the world and for those companies to have greater access to the capital markets. We are thrilled to have the opportunity to play a part in this development,\u201d said Eric Jing, Executive Chairman of Ant Group.<\/strong><\/h2>\n<\/blockquote>\n
Ant Group\u2019s Financial Strength<\/h2>\n
Ant Group Has the Ambition to Serve 2 Billion Consumers<\/h2>\n