Billionaire Jack Ma's Ant Group is working on an IPO from Hong Kong and Shanghai markets at a valuation of $ 200 billion. It plans to introduce China as a leader in the Internet market. It is also expected to break Saudi Aramco's record of $ 29 billion IPO.
Listing Preparation on Hong Kong and Shanghai Stock Exchange
The father of China's largest mobile payment company will do two listings simultaneously on the StarBoard of the Hong Kong and Shanghai Stock Exchange. The Hangzhou-based firm said it was the biggest such start in recent years. The Ants are already richer than a large-scale Wall Street firm. If conditions are right, it could raise more money than Saudi Aramco's record $ 29 billion IPO.
Business has been diversified
The head of the Alibaba empire has now joined the business of distributing food from loans and travel services. Now the group is developing rapidly in online malls. Anto CEO Simon Hu has said that Ali Pay has become the world's largest e-commerce platform, not just a payment gateway and financial service provider.
Digital payments in India and Thailand
One of its functions now is to develop its reach in Asia, where it is working with digital payments in India and Thailand. It is also advancing its expertise in fund management and risk control. Alibaba's stock rose 3.1 percent on Tuesday in New York. This is a record since the 2014 IPO. People familiar with the matter said Ant had selected China International Capital Corp, Citigroup Inc., JP Morgan Chase & Co., and Morgan Stanley as bankers for its Hong Kong offering. It can raise 10 billion dollars.
Many Chinese Internet firms have done two listings.
Alibaba is China's new big company ready for listing. Due to this, the capital market of New York was also not as important. Semi-Conductor Manufacturing International Corp raised $ 7.5 billion from share sales in July. Some Chinese Internet firms, including JD.com Inc. and NetEase Inc., have also made a second listing in Hong Kong this year. Pamela Chung, head of IPO at Hong Kong-based consultancy Tricor Group, said despite the huge amount of capital, it is not sure how investors will look at Ant Group as the market has a lot of tech stocks.
The last valuation of the end was $ 150 billion.
Dual listings were previously the preferred route for banks, oil and gas producers. But now circumstances have changed due to the complexities involved in the share sale. Ant's decision is a win for Shanghai's starboard. Dual listing also helps Hong Kong Exchange & Clearing Limited. Alibaba Group Holding Limited is also included. Alibaba's filings showed that Ant's last valuation was $ 150 billion. It made a profit of $ 2 billion in the fourth quarter.
The Ant stopped the expansion plan in America
Like Alibaba, Ant has banned its expansion into the US. Because tensions between the US and China have increased. Jack Ma said in 2018 that his promise to create 1 million jobs in the US was impossible to fulfill due to tensions between the two superpowers. Instead, Ant has focused its offshore ambitions on building its presence in the rest of Asia. It is working with nine payment startups including owners of Paytm in India and Zee Cash in the Philippines.
Ant is now expanding into consumer and IT services
It is expanding into consumer and IT services. Its IT solutions include services in cloud computing, artificial intelligence, blockchain, and risk control. The purpose of the Ant is to help customers take loans by banks. Partnering with brands such as KFC Holding Company and Marriott International Inc. to attract customers.
Mobile payment Ali Pay's share steadily increased
Ant's CEO Simon Hu is betting that all those strategies will help the Ant to establish its monopoly in China's $ 29 trillion market. According to research consultant Eye Research, the share of mobile payments Ali Pay has increased for three consecutive quarters. It increased to 55.1% in the fourth quarter. Tencent has a market share of 38.9%.
Disputes have been associated since inception
Ant changed its name from Ant Financial Services Group to Ant Group Company at the end of May. Ant said that it has had a deep connection with controversies since its inception. In 2010, Jack Ma closed Ali Pay to Alibaba after shareholders' objections, including Yahoo Inc., citing possible regulations. Jack Ma said that this could curb foreign ownership of financial businesses.
Alibaba bought 33 percent stake in Ant
Ali Pay later expanded into loans, fund management, and consumer credit. It is now known as the Ant Group. Alibaba eventually overcame the controversy last year by purchasing a 33 percent stake in Ant. With Ant's IPO, shareholders are now looking at Alibaba's business differently.
Team India's refusal to practice: Reason- the ground was 42 km away from the hotel; Players were angry even after getting a cold breakfast
India's second match in the T20 World Cup will be against the Netherlands on Thursday. The match will be played in Sydney from 12:30 pm, but before that, a dispute arose over practice and arrangement.
PM Modi said at Semicon India Conference 2023 – India's electronics production crossed $ 100 billion
Prime Minister Narendra Modi (PM Modi) on Friday addressed the Semicon India Conference 2023 in Gandhinagar, Gujarat. During this, he appealed to the people to visit the Semicon India 2023 exhibition.
Indias Got Latent: Samay Raina is broken by the 'India's Got Latent' controversy, comedian's friend said- he is scared...
Amid the 'India's Got Latent' controversy, YouTuber Shwetaabh Gangwar revealed that he recently spoke to his friend and comedian Samay Raina and realized that he was broken and depressed. He also
Sanyukt Kisan Morcha: Punish the anti-farmer BJP, SKM's appeal to the people of UP and Uttarakhand
Despite the claim of being an apolitical organization, the United Kisan Morcha has sounded the trumpet of opposition to the Bharatiya Janata Party (BJP) in the Uttar Pradesh and Uttarakhand elections.
David Warner : Delhi Capitals make David Warner their captain, India's star all-rounder will be vice-captain
Australia's experienced opener David Warner has been appointed as the captain of Delhi Capitals for IPL 2023. One of the hottest players in the IPL, Warner will replace Rishabh Pant in the upcoming
Serum Institute: Novavax vaccine to be trained for children, will bring Novavax to the country by September
Serum Institute of India (SII) is planning to start a clinical trial of the Novavax vaccine for children. Sources said on Thursday that the institute can start the trial of this anti-Covid-19 vaccine
Lok Sabha Election: Public meeting of these stalwarts including Rajnath-Akhilesh today, campaigning will stop on five seats of Purvanchal
Elections will be held on May 25 in the sixth phase on five Lok Sabha seats in three districts of Purvanchal. The election campaign on these seats will end at 5 pm on Thursday. These five
Canada Nijjar Case: The killers of Khalistani terrorist Hardeep Nijjar will soon be revealed, Canadian police found major evidence.
A big revelation is going to be revealed soon on the murder of Khalistani terrorist Hardeep Singh Nijjar living in Canada. Canadian police say they are monitoring two men whom authorities suspect of
Waqf Law: SC will hear the case against Waqf law on this day, Central government has also made this demand
The Supreme Court will hear on April 16 the petitions challenging the constitutional validity of the Waqf Amendment Act, 2025. The matter is listed before a bench headed by Chief Justice Sanjiv
Navjot Sidhu's direct threat: I have told the Congress high command that if I do not get the freedom to make a decision, I will crack it brick by brick; There is no use in becoming a sighted horse
Punjab Congress President Navjot Sidhu has now given a direct threat that if he is not given the liberty to make a decision, he will do 'Brick to Brick Khadka'. There is no use in becoming a vision
