Chinese fintech Ant Group is seeking to raise more than $34 billion from its upcoming blockbuster initial public offering, as the company disclosed pricing terms Monday for its two listings in Hong Kong and Shanghai that would make its IPO the largest ever.
Chinese fintech Ant Group received approval from the China Securities Regulatory Commission for the Shanghai portion of its blockbuster initial public offering, which is the last step in the review process and a milestone that comes days after it reportedly got a green light for the Hong Kong portion of its highly anticipated dual listing.
Chinese fintech Ant Group received approval on Monday for the Hong Kong portion of its initial public offering, according to reports from Reuters and the South China Morning Post, a move that comes a month after it received regulatory consent to list in Shanghai.
Chinese fintech Ant Group has raised its targeted valuation for its upcoming blockbuster initial public offering from $250 billion to at least $280 billion, Bloomberg reported on Friday.
Chinese fintech Ant Group’s upcoming massive initial public offering is seeing strong interest from retail investors, as evidenced by the CNY 60 billion in proceeds ($8.96 billion) raised by five mutual funds created to invest in the company’s shares, Reuters reported Friday.
Vanguard Group has returned $21 billion in managed assets to state funds in China, Bloomberg reported Friday, as the asset management firm continues to pare back its international business to focus on catering to individual investors.
Chinese fintech Ant Group said Monday that its online banking unit opened for business in Hong Kong, an expansion that comes in the lead-up to the company’s blockbuster initial public offering.
Ant Group on Friday unveiled a new cross-border trade finance platform powered by its Blockchain-based unit AntChain in partnership with major global banks as the Chinese fintech readies for its blockbuster initial public offering.
China’s Shanghai Stock Exchange told investors to “strictly abide” by rules for initial public offerings over concerns that buyers, sellers and underwriters may have colluded to suppress prices on its technology board.
Chinese fintech Ant Group cleared a key hurdle for its blockbuster initial public offering Friday when a committee approved its proposed listing on the Shanghai Stock Exchange’s STAR Market.
China’s central bank issued new regulations on capital requirements and corporate governance for financial holding companies in a bid to prevent systemic financial risks, citing gaps in its supervision of the nation’s financial sector.
Chinese fintech Ant Group, the parent company of the Alipay mobile app, has enjoyed solid revenue growth in recent years while its original payments segment has been eclipsed by other financial services, a filing for its upcoming blockbuster initial public offering shows.
Hong Kong’s financial sector is seeing a rebound driven by a surge in fund inflows and initial public offerings, even as the city struggles to shake off the pandemic and controversy surrounding a new China-imposed security law.
Ant Group signed a partnership agreement on Monday with both e-commerce company Alibaba Group, which it is affiliated with, and Bank of China aimed at boosting innovation in China’s financial sector ahead of the fintech’s planned blockbuster initial public offering.
Chinese fintech Ant Group is reportedly planning to launch a consumer finance company to serve China’s domestic market as it prepares for its blockbuster initial public offering.
Tech conglomerate Tencent Holdings is entering China’s growing investment advisory market months after rival Alibaba Group set up its own advisory business, spurring increased competition in a newly opened market.
China Life’s asset management group and Jack Ma-backed software company Hundsun Technologies have launched a joint “financial technology joint innovation laboratory,” a state financial news outlet reported.
Chinese authorities are considering launching an antitrust probe into the nation’s two dominant digital payment platforms, Alipay and WeChat Pay, Reuters reported Friday.
Chinese fintech Ant Group, which is controlled by Alibaba Group co-founder Jack Ma, said on Monday that it will have an initial public offering in both Hong Kong and Shanghai.
The People’s Bank of China, the country’s central bank, moved a step closer to releasing a digital currency with the completion of the technology’s backend, a former state official reportedly told attendees at a fintech event broadcast from Beijing.