Ant Financial to hold IPOs in Shanghai and Hong Kong

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The company is estimated to be over 200 billion dollars

Ant Financial Plan to hold IPOs in Shanghai and Hong Kong. Photo: peripherydigital.com

Fintech division of Chinese tech giant Alibaba Group called Ant Technology Group (formerly known as Ant financial) According to the publication, there are plans to hold an IPO on the Hong Kong and Shanghai stock exchanges Finextra

Ant Technology is expected to receive a valuation of over $ 200 billion, making it the world’s most valuable fintech company. In this case, the companies will bypass the PRC’s largest financial institution, the Chinese Construction Bank and the American financial conglomerate Bank of America.

Ant of China is 33% owned by the Alibaba Group and controlled by tech giant founder Jack Ma. According to official data, the fintech company has a capitalization of $ 150 billion – an amount that investors had anticipated during the final round of financing.

By 2019, the Chinese payment system Alipay and its partners served more than 1.2 billion users worldwide.

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Earlier we wrote that fintech giant Ant Financial acquired a minority stake in the Swedish company Karlna, which services the payment systems sector and is known for its “buy now, pay later” model is.

Terms of the deal were not disclosed, but according to media reports, Ant acquired a 1% stake in Curlna, which is currently valued at $ 5.5 billion.

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