October 20, 2020


Ant’s IPO for Hongkong & Shanghai’s Dual Listing

The world’s highest-valued FinTech company and Alibaba have registered for a dual listing in the Chinese special administrative region, Hong Kong, and on Shanghai’s Star market recently. The 2 company can raise insofar as 30 billion dollars in the world’s largest initial public offering.

Ant’s initial public offering would be the first simultaneous listing in Hong Kong and the year-old STAR Market, boosting Hong Kong’s status as an international IPO market and helping enhance STAR as a capital markets center.

Alibaba group’s affiliated company Ant group has not disclosed any details regarding the offerings yet.

People close to the matter have estimated that the fintech company is planning to raise over and above 20 billion dollars from the dual-listing which is going to take place in October 2020. This whole planning can make ant group value at over 200 billion dollars.

 

Image from Alibaba

If the market gives more opportunities then the size of the offering can go up to 30 billion dollars.

Ant group can become the world’s biggest Initial Public Offeror. It, was Saudi Arabia as it raised around 29.4 billion dollars which exceeded Alibaba’s record of 25 billion dollars.

Ant group is planning to sell its shares not less than 10% of share capital used in the dual-listing.

Ant is planning to expand the company’s user base and cross-border payments. It also plans to enhance R&D.

In the first half of the year, the company earned approx. Chinese yuan 73 billion. But later the profit rose to twelve times to 22 billion Chinese yuan.

These numbers highlight how Ant can prosper while other companies have crippled because of the coronavirus.

Ant has collected a variety of financial licenses which will help the firm to function in China’s massive financial marketplace.

Earlier in 2014, the fintech company was known by the name, Ant financial but later in May, it was changed to Ant Group.

Ant group has raised a sum amount of 10.3 billion dollars in the starting 7 months of 2020, through an initial public offering on the Shanghai’s STAR Market.