Tech & Science record IPO of Alibaba's Ant Group burst

23:50  03 november  2020
23:50  03 november  2020 Source:   finanzen.net

Ant McPartlin gets his head cut off by Declan Donnelly

  Ant McPartlin gets his head cut off by Declan Donnelly The TV presenters made use of the Time Warp Scan Filter on TikTok as Dec appeared to 'decapitate' his pal leaving his head floating in the air, in a video they posted on Instagram.The TV presenters made use of the Time Warp Scan Filter on TikTok as Dec appeared to 'decapitate' his pal.

Ant Group , an affiliate of Alibaba , announced plans for its long-awaited dual listing in Shanghai and Hong Kong on Monday. Alibaba ' s Ant could be bigger than some Wall Street banks — What you need to know about the dual IPO . Published Tue, Jul 21 20202:08 AM EDT.

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Only two days before the planned record IPO of the financial offshoot of the world's largest online trading platform Alibaba, the debut in Shanghai and Hong Kong was off.

Die Ant Group wollte mit einem Aktienverkauf im Wert von 34,5 Milliarden Dollar den weltweit größten Börsengang starten. Nur zwei Tage vor dem geplanten Börsengang hat der Shanghaier Aktienmarkt das Debüt platzen lassen. © Kin Cheung / AP / dpa The Ant Group wanted to start the world's largest IPO with a share sale worth 34.5 billion dollars. Just two days before the planned IPO, the Shanghai stock market made its debut.

The anticipated double listing of the Ant Group was expected to be the largest IPO of all time at 34.5 billion US dollars (29.2 billion euros). The fintech giant operates the popular mobile payment service Alipay. The supervisory bodies of the stock exchanges in Shanghai and Hong Kong surprisingly suspended the listing for the time being.

China's Ant Group says to raise $34 bn in record IPO

  China's Ant Group says to raise $34 bn in record IPO Chinese e-payments giant Ant Group said Monday it plans to raise $34 billion in a listing shared between Hong Kong and Shanghai, making it the biggest IPO in history. The record-shattering IPO comes as the administration of US President Donald Trump tries to smother Chinese technology companies, whose ascent is seen by Washington as a threat to American security, prestige and supremacy in the digital age. The cash raised from the split float between Hong Kong and Shanghai would exceed the $29 billion chalked up by Saudi Aramco in December, a high-profile win for a Chinese company during a period of bad headlines for tech firms from the mainland.

Ant Group ' s world record -setting initial public offering in Shanghai and Hong Kong has been suspended. The Shanghai Stock Exchange said Ant Group reported "significant issues," which means it may not meet the conditions for listing or "information disclosure requirements."

Ant Group ' s public offering would bypass a New York listing as tensions rise between the US and China. Sources told The Wall Street Journal and Bloomberg that Ant will seek a 0 billion valuation for its IPO , which could be one of the most valuable public offerings in history.

The Shanghai Stock Exchange justified the move on Tuesday evening local time by saying that the “regulatory environment” had changed significantly. Doing so could prevent Ant Group from meeting its IPO and disclosure requirements. Ant Group announced, according to the financial agency Bloomberg, that the debut in Hong Kong had also been stopped.

The day before, Alibaba founder Jack Ma and other company executives had been summoned by China's central bank and other regulators. It was about "the health and stability of the financial sector", it was said afterwards. Ant Group wanted to implement the opinions exchanged, the company announced afterwards. But it remained unclear what the instructions were.

At the meeting, billionaire Ma and his managers were told, according to the finance agency Bloomberg, that Ant Group would face the same restrictions on capital and debt as Chinese banks as it expanded. It also speculates that billionaire Ma, China's second richest entrepreneur, may have drawn the wrath of the treasury.

On the march: Ant Group, China's fintech sensation

  On the march: Ant Group, China's fintech sensation With a name belying its giant ambitions, China's Ant Group on Tuesday launched a history-making $34 billion IPO in Hong Kong and Shanghai. But seemingly not that of Jack Ma. China's richest man stands to make around $27.8 billion from his 8.8 percent stake in Ant if the share sale goes to plan. burs-apj/danBacked by Jack Ma, China's richest man who founded the Alibaba e-commerce empire from his bedroom two decades ago, Ant is a financial technology titan that is stitched into the everyday life of hundreds of millions of Chinese people.

Alibaba ' s Ant Group Files for Blockbuster Hong Kong, Shanghai Dual Listing. Ma, one of China's richest and most powerful business figures as well as Ant 's controlling shareholder, has also faced state media criticism for comments in late October in which he boasted of the size of the IPO and appeared

Alibaba has plans for another blockbuster IPO . Its financial technology arm, Ant Group , has filed for a dual listing in Hong Kong and Shanghai. Now its IPO could beat the record 29.4 billion dollars raised last December by oil giant Saudi Aramco. Before that the record was held by Alibaba Group itself

The unusual subpoena followed sharp criticism from Ma, who recently accused local and global regulators in a speech of stifling innovation and not paying enough attention to new developments. "Good innovation is not afraid of regulation, but it is afraid of outdated regulations," Ma was quoted as saying. The future should not be regulated “with yesterday's methods”.

The planned equity debut of $ 34.5 billion could have surpassed Saudi Aramco's largest ever IPO of $ 29 billion. The Saudi oil giant had only sold 1.5 percent of its shares in December 2019. The Ant Group would have been worth more than $ 200 billion if it went public. No other fintech company is rated as highly.

Ant Group not only operates the Alipay mobile payment service in China, but also offers loans, insurance and asset management. Alipay shares the mobile payment market with competition from Wechat-Pay from the Chinese internet company Tencent. Today, the billion-dollar population usually only pays in shops with their mobile phones by scanning a code - be it “Weixin” for Wechat or “Zhifubao” for Alipay.

China's Ant Group facing regulatory pressure ahead of record IPO

  China's Ant Group facing regulatory pressure ahead of record IPO Fintech giant Ant Group is facing growing Chinese pressure over potential risks in its online lending business, with co-founder Jack Ma and other executives summoned to an unusual meeting with regulators just ahead of its record-breaking IPO this week. It follows new state regulations to contain potential risks in China's growing online lending industry, a sector Ant Group has aggressively moved into. It remains to be seen how much impact the pressure may have on the share issue, which has global investors salivating. Video: U.S.

The subsidy of Alibaba Group Holding was founded in 2004 as Alipay and rebranded in 2014 as Ant Financial Services. Hangzhou-based Ant Group will list the dual IPO amid early investor interest and is will be based on a valuation of roughly 0bn, according to Reuters.

Ant Group has recently reported to China' s securities regulator about the significant changes in the regulatory environment, the exchange said, and this major The Hong Kong stock exchange declined to comment on the Shanghai stock exchange' s suspension on the Hong Kong leg of the Ant IPO .

The Alipay app has 711 million monthly users - one billion in total. In Europe too, Alipay is accepted by thousands of retailers to attract Chinese tourists. In Germany, the drugstore chains dm and Rossmann as well as the WMF Group, Kaufhof and Munich Airport offer payment with Alipay.

The Ant Group wanted to bypass the American stock exchanges with Hong Kong and Shanghai - an innovation for such a large Chinese technology company. The procedure was seen against the background of tensions between China and the USA. After some scandals, the US supervisory authorities want Chinese companies to look deeper into the books than before. Alibaba itself went public in New York in 2014. The secondary listing in Hong Kong took place in 2019.

The postponement of the IPO is also a setback for the new technology exchange Star in Shanghai, which was founded as the Chinese counterpart to the Nasdaq in the USA.

Crazy sale! China’s Singles’ Day bags record shopping revenues .
Chinese e-commerce giant Alibaba records $56bn in first post-virus Singles’ Day sales, beating 2019 high.This year’s shopping extravaganza comes a week after Alibaba lost almost $76bn of its market value following China’s suspension of the $37bn listing of Ant Group, the financial technology firm which Alibaba owns a third of.

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