Alibaba’s famous FinTech spin-off, Ant Financial, is set to go public this year.
In Brief:
-
The business reportedly plans to launch its IPO in China with a “concurrent” IPO in Hong Kong.
-
Ant Group, which owns Alipay, is owned by Alibaba which floated publicly in 2014 and is still the world’s second largest IPO.
-
It will sell between 5 and 10% of its shares according to Reuters.
What does this mean?
If the IPO goes ahead it will be the biggest of 2020. Some sources are predicting Ant could be valued at $200bn.
