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Ant Group plans concurrent IPOs in Shanghai, HK

Abstract : Ant Group, the parent company of China's leading mobile-payment business Alipay, announced Monday that it has commenced the process of concurrent initial public offerings in Shanghai and Hong Kong.

HANGZHOU, July 20 (Xinhua) — Ant Group, the parent company of
China’s leading mobile-payment business Alipay, announced Monday that it
has commenced the process of concurrent initial public offerings in
Shanghai and Hong Kong.

The listings on the Shanghai Stock Exchange’s STAR board (SSE STAR
market) and the Stock Exchange of Hong Kong Limited (SEHK) will help the
company accelerate digitizing the service industry in China and driving
domestic demand, and position the company to develop global markets
with partners and expand investment in technology and innovation, Ant
Group said.

“The innovative measures implemented by SSE STAR market and the SEHK
have opened the doors for global investors to access leading-edge
technology companies from the most dynamic economies in the world and
for those companies to have greater access to the capital markets. We
are thrilled to have the opportunity to play a part in this
development,” said Eric Jing, Executive Chairman of Ant Group.

“Becoming a public company will enhance transparency to our
stakeholders, including customers, business partners, employees,
shareholders and regulators. Through our commitment to serving the
under-served, we make it possible for the whole of society to share our
growth,” Jing said in a press release. Enditem

About Xinhua Silk Road

Xinhua Silk Road (en.imsilkroad.com) is the Belt and Road Initiative (BRI) portal.China’s silk road economic belt and the 21st century maritime silk road website,includes BRI Policy,BRI Trade,BRI Investment,Belt and Road weekly,Know Belt and Road,and the integrated information services for the Belt and Road Initiative (BRI).

Source: Ant Group plans concurrent IPOs in Shanghai, HK

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