Ant Financial Services Group Ipo. Is it a MasterCard or a PayPal? Ant Group also accounted for certain risks to its business, most notably the increasingly frosty relationship between the United States and China.
Ant Financial, which rebranded itself to Ant Group in June in an apparent effort to stress tech over finance and ward off Chinese finance regulators, filed papers on Tuesday to go public in a dual listing in Shanghai and Hong Kong. It then launched China's go-to app for mobile payments. Ant Group also accounted for certain risks to its business, most notably the increasingly frosty relationship between the United States and China.
Instead, The Ant Group will do a dual-listing in both Hong Kong and Shanghai, a first for a Chinese technology company of this ilk. 蚂蚁集团是一家旨在为世界带来普惠金融服务和数字生活新服务的创新型科技企业。 Ant Group did not disclose how much it hoped to raise, and a spokesperson declined to comment on the matter.
It separated from Alibaba just before the Chinese Ant Group's services include loans for consumers and businesses and wealth management.
It began life as Alipay, a payment service on Alibaba's e-commerce platforms. On a number of counts, Ant is more like Online loans to consumers and small businesses have overtaken mobile payments – the segment Ant is best known for — as the group's largest. The Ant Group IPO, unlike the IPOs of previous Chinese tech giants, will skip a listing in the financial center of the world amid escalating U.