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Money Chinese Fintech Ant drives the world's largest IPO

09:10  22 october  2020
09:10  22 october  2020 Source:   de.reuters.com

Trump mulls adding China’s Ant Group to trade blacklist: Report

  Trump mulls adding China’s Ant Group to trade blacklist: Report China hardliners in the Trump administration are seeking to send a message deterring US investors from Ant Group’s IPO.It was not immediately clear when the US government agencies that decide whether to add a company to the so-called Entity List would review the matter. But the move comes as China hardliners in the Trump administration are seeking to send a message to deter US investors from taking part in the initial public offering, worth up to a record $35bn. They fear buying shares in the company could expose them to fraud or that Ant could give the Chinese government access to sensitive banking data belonging to US citizens.

The Chinese fintech titan Ant Group—co-founded by Alibaba billionaire Jack Ma—is set to go public in what could be one of the largest listings ever. WSJ explains how Ant 's backbone service, Alipay, has revolutionized payments and investing in the world ' s most populous country.

The Ant Group is the world ’ s largest fintech company that is essentially the PayPal of Asia. But they can indirectly invest in the IPO , by buying various ETFs which give them diversified exposure to the fintech giant. So, if you’re interested in investing in The Ant Group IPO , don’t let the foreign listing

Beijing / Hong Kong (Reuters) - The Chinese Fintech Ant can initiate the world's largest IPO.

FILE PHOTO: FILE PHOTO: Employees are seen at the reception desk of Ant Financial Services Group at its headquarters in Hangzhou © Reuters / Shu Zhang FILE PHOTO: FILE PHOTO: Employees are seen at the reception desk of Ant Financial Services Group at its headquarters in Hangzhou

The Chinese Securities Commission (CSRC) gave the go-ahead for the issue on Wednesday. Ant then announced that it would price the shares on October 26th. The operator of the payment service Alipay did not mention a price range for the 3.4 billion shares on offer or a date for the initial listing in its stock market prospectus, which was updated on Wednesday. According to insiders, the Chinese company plans to go public with 35 billion dollars, surpassing the record emissions of oil giant Saudi Aramco, which raised 29.4 billion dollars last year. Ant is hoping for a valuation of more than $ 250 billion.

Alibaba Secures Two Major Business Wins, Asserting its Dominance in China

  Alibaba Secures Two Major Business Wins, Asserting its Dominance in China Asia's largest corporation, founded by the billionaire Jack Ma, took control of a leading hypermarket chain and won approval for the listing of an offshoot in Hong Kong.Asia's largest corporation will pay HK$28 billion ($3.6 billion) to double its stake in bricks-and-mortar retailer Sun Art from 36.16 percent to 72 percent by acquiring equity from Auchan Retail International.

Chinese billionaire Jack Ma could be about to pull off a record-breaking IPO for the second time. The documents Ant filed to the Hong Kong Stock Exchange on Tuesday did not mention the price range of the new But they did offer a look under the hood at one of the world ' s most valuable tech companies.

The Chinese fintech titan Ant Group—co-founded by Alibaba billionaire Jack Ma—is set to go public in what could be one of the largest listings ever. WSJ explains how Ant 's backbone service, Alipay, has revolutionized payments and investing in the world ' s most populous country.

The Ant Group wants to go public in Shanghai and Hong Kong at the same time. The group, which belongs to the company empire of Alibaba founder Jack Ma, is offering 1.67 billion shares each. There is also a placement reserve (greeshoe) of 15 percent. The Alibaba subsidiary Zhejiang Tmall Technology will subscribe 730 million of the shares offered in Shanghai, it said in the prospectus. With Alipay,

Ant operates the dominant payment service in China and also offers loans, insurance and wealth management services via the apps. In the first nine months of 2020, Ant increased operating income 42.6 percent to the equivalent of $ 17.8 billion. Alibaba holds a third of the shares in Ant. Since the last financing round in 2018, well-known investors such as the state fund Temasek from Singapore and the financial investor Warburg Pincus have also been involved in the fintech.

Largest IPO ever? China’s Ant wins HK nod for $35bn dual listing

  Largest IPO ever? China’s Ant wins HK nod for $35bn dual listing The fintech firm plans to list simultaneously in Hong Kong and on Shanghai’s STAR Market in weeks, Reuters reports.Backed by Chinese e-commerce giant Alibaba Group Holding Ltd, Ant passed the hearing with the exchange’s Listing Committee on Monday, the sources said, speaking on condition of anonymity because the information is not public.

The fintech company and affiliate of the Alibaba Group plans to shore up billions in stocks in a bid to boost the Hong Kong stock exchange amid political turmoil on the finance hub' s national security law.

Planned billion IPO would be world ’ s biggest offering. Jack Ma Photographer: Marlene Awaad/Bloomberg. Jack Ma’s Ant Group Co. got the green light from China ’s securities watchdog for its initial public offering in Shanghai, clearing another hurdle as the Chinese fintech giant tries to

Ant had to wait a long time for all the necessary approvals from the authorities. It was only on Wednesday that the securities regulator CSRC gave the green light for the IPO in Shanghai, after having given the green light for the issue in Hong Kong a few days ago. Ant originally wanted to go public in early October, but the securities regulator's review of the plans dragged on. According to insiders, CSRC was investigating a possible conflict of interest.

Ant did not mention a date for the initial listing. This will be determined at a later date, it said in the prospectus. People familiar with the plans had told Reuters news agency that the stock market debut was planned shortly after the US presidential election, which will take place on November 3rd. The nervousness of investors has recently increased in view of the rising number of corona infections and the approaching US elections. Several IPOs were therefore put on hold.

Chinese brokers test top dog Goldman in record IPO year .
(Bloomberg) - Chinese brokers can look forward to a great year in IPOs. In the global ranking, they have reached the highest positions in at least two decades, to which Ant Group's multi-billion dollar debut also contributes. Leading the way is China International Capital Corp. (CICC) thanks to a plethora of Chinese transactions, an economy shaking off the pandemic, and liberalization of local capital markets. If Ant completes its IPO over the projected record volume of $ 34.5 billion , CICC wi

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