Ant Group Plans a Concurrent Listing in Shanghai and Hong Kong’s Stock Exchangeby Fintech News Hong Kong July 21, 2020
Ant Group, the parent company of China’s largest mobile payments business Alipay and leading provider of financial services technology, today announced that it has commenced the process of a concurrent initial public offering (“IPO”) on the Shanghai Stock Exchange’s STAR board (“SSE STAR” market) and The Stock Exchange of Hong Kong Limited (the “SEHK”).
The listings will help the company accelerate its goal of digitizing the service industry in China and driving domestic demand, as well as position the company to develop global markets with partners and expand investment in technology and innovation.
“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.
Ant Group aims to create the infrastructure and platform to support the digital transformation of the service industry. We strive to enable all consumers and small businesses to have equal access to financial and other services that are inclusive, green and sustainable.
“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,”
Mr. Jing said.