Ant Group gears up a dual-listing IPO in China

Jul 27, 2020 Alibaba Group

Ant Group (former Ant Financial), an affiliate of Chinese e-commerce giant Alibaba, announced that it has started the process of a dual listing in Hong Kong and Shanghai.     

According to media reports, its IPO valuation could be as high as $200 billion, which is higher than Meituan, JD.com, and only next to Alibaba and Tencent in Chinese new economy companies.

Although no specific listing date has been announced, the news of Ant Group's official listing has been enough to shake the capital market, with both the SSE (Shanghai Stock Exchange) and the HKEx ( Hong Kong stock exchange) giving positive responses to Ant Group's actions.

• The SSE said that Ant Group's application for the STAR board demonstrates the market attractiveness and international competitiveness of the board as the "preferred listing place" for Chinese science and technology enterprises.

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