Well, sorry, it's the law.
Now, Ant Financial is looking to dominate elsewhere integrating payments, lending, AI, and much more.© 2020 Crowded Media Group. For more info and to customise your settings, hit “Customise Settings”.The company did not specify a time frame or a fundraising target, but reportedly seeks a $200bn valuation that would make it one of the largest initial public offerings in history.Over the past few years, Ant has shifted its focus to international expansion. If people say no to these cookies, we do not know how many people have visited and we cannot monitor performance.Oh no, you're thinking, yet another cookie pop-up. The group, which was spun out of Alibaba Group in 2011, said on Monday that it plans a dual-listing in China's NASDAQ-like STAR board, plus the Hong Kong Stock Exchange. Ant Group's IPO is a turning point ... the firm is seeking to reach an astonishing 200 billion U.S. dollars valuation becoming one of the biggest IPOs in 2020. In March 2020, it bought a small stake in Swedish fintech Klarna, which is Europe's joint-largest privately owned fintech. In 2017, Ant tried to buy American money-transfer company MoneyGram for $1.2bn but was rebuffed by Washington on national security grounds.These cookies are used to make advertising messages more relevant to you.
Ant generated revenue of about 120 billion yuan ($17.10 billion) last year and almost 17 billion yuan in net profit, according to financial documents seen by Reuters. Although no definitive timetable has been set, the company is reportedly considering a dual … Alibaba's financial services arm, Ant Group, will seek an initial public offering in both Shanghai and Hong Kong as it looks to expands its operations into the European and American markets.
They perform functions like preventing the same ad from continuously reappearing, ensuring that ads are properly displayed for advertisers, and in some cases selecting advertisements that are based on your interests.These cookies collect information in aggregate form to help us understand how our websites are being used. This is not the case in China.In many ways, Ant Financial is emblematic as to the future of Fintech as it becomes a ubiquitous service.
You can also change your choices at any time, by hitting the “Your Consent Options” link on the site's footer.Although Ant has quickly expanded across Asia, it has struggled to make inroads into Europe and the Americas, where traditional payment systems such as credit cards and interbank systems remain the norm.Alibaba founder, Jack Ma, retains a 50 per cent stake in Ant through his two investment partnerships.
Ant Financial, part of the mega-tech group Alibaba , is planning an initial public offering (IPO) in Hong Kong that will value the firm at a massive $200+ billion valuation, according to a report.
Jay Yao | July 8, 2020 | More on: 2318 "The listings will help the company accelerate its goal of digitizing the service industry in China and driving domestic demand as well as position the company to develop global markets with partners and expand investment in technology and innovation," Ant said in a statement.America has proven a tougher nut to crack.
The Motley Fool Hong Kong » Financials » Ant Financial’s Potential IPO: Why There’s an Opportunity in Ping An Insurance . Alipay is now accepted in shops in 56 countries and regions, predominantly targeting Chinese travellers abroad.
Ant Financial could also leverage the Chinese population to expand into U.S. territory, a thought that has stateside investors salivating.
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Over the last 12 months, the company has tried to buy its way into both markets by taking stakes in local companies.
Here’s 3 stocks that could benefit as a result of a successful IPO. We measure how many people read us, and ensure you see relevant ads, by storing cookies on your device. All Rights Reserved. Ant Financial’s Potential IPO: Why There’s an Opportunity in Ping An Insurance. "Becoming a public company will enhance transparency to our stakeholders," said Eric Jing, executive chairman of Ant Group in the statement.The group, which was spun out of Alibaba Group in 2011, said on Monday that it plans a dual-listing in China's NASDAQ-like STAR board, plus the Hong Kong Stock Exchange.Ant runs Alipay, which has grown into China's dominant mobile payment system and boasts over 900m annual users.
According to the Financial Times, Ant Financial has revived plans for an IPO. Without these cookies we cannot provide you with the service that you expect.Alibaba's financial services arm, Ant Group, will seek an initial public offering in both Shanghai and Hong Kong as it looks to expands its operations into the European and American markets.
The fact it emerged from Alibaba has provided a clear path to scale rapidly into one of the largest single markets in the world.
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