This environment is likely a major reason Ant chose to list on exchanges in Shanghai and Hong Kong, rather than follow Alibaba to Wall Street. The Associated Press. Most experts agree that Ant Group's valuation could take a beating, but some are unclear on what the final number might be. The compound annual growth rate in Ant's annual active users was 15 per cent between 2017 and 2019.Alibaba co-founder Jack Ma is a controlling shareholder of Ant Group … Z Space, No. In the long run, that could benefit China, directing money to its markets as investors rush to snap up Ant shares. Ant set the price tag for the Shanghai leg of the listing at 68.8 yuan ($14.39) per share and HK$80 ($14.50) per share for the Hong Kong tranche, the exchange filings showed. Ant … Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. China could push tech giants including Tencent, JD.com, and Ant Group to share their customers’ loan data with them to prevent excess borrowing and … Ant Group's highly anticipated IPO has been suspended following a meeting between the company's billionaire co-founder Jack Ma and regulators in … "Ant is being viewed as this national technology champion — it's investing in AI, it's investing in blockchain," Lu said. It is more a question of when, not if. Ant is the financial technology company affiliated with Chinese e-commerce group Alibaba (BABA), which went public on the New York Stock Exchange in 2014 in … Huabei (Ant Credit Pay) – a virtual credit card type of product that facilitates credit payments, MYbank – a private online bank that lives entirely on the cloud, Jiebei (Ant Cash Now) – a consumer loan service, Ant Fortune – a comprehensive wealth management app, ZOLOZ – a global biometric-based identity verification platform, This page was last edited on 19 January 2021, at 04:00. While Alibaba’s Ant Group financial affiliate was wowing investors with strong top and bottom line growth in its newly released prospectus, the massive document of more than 600 pages also provided some insight on the company’s ownership, including influence wielded by retired Alibaba founder Jack Ma.. Disclaimer. Mirroring Ma's success with Alibaba, Ant has quickly grown into most powerful tech companies in the world. What’s new: Five Chinese mutual funds previously aimed at investing in the Shanghai portion of Ant Group Co. Ltd.’s dual IPO have seen large numbers of investors pull their money out, following the abrupt suspension of the fintech giant’s potentially record-breaking IPO in early November. That means BABA stock acts as an Ant Financial IPO proxy. Alipay was rebranded as Ant Financial Services on 23 October 2014. Share to Facebook Share to Twitter Email this article. A growing number of Chinese companies have been seeking refuge on national exchanges as tensions between Washington and Beijing ramp up, and Ant's success could encourage more firms to follow suit, according to Brock Silvers, chief investment officer at Kaiyuan Capital and former chief investment officer at Adamas Asset Management. Luckin Coffee was kicked off the Nasdaq following the disclosure of major accounting irregularities. The dual IPO would have valued Ant Group at around $313 billion. Jing, who is also a major shareholder in Ant Group, said that the operator of China’s largest payments app, Alipay, has been managing the aftermath of the failed listing plan during the past month, under the guidance of the regulators. All times are ET. A simpler way to invest in Ant is to buy shares of Alibaba. FILE PHOTO: A sign of Ant Group is seen during the World Internet Conference (WIC) in Wuzhen, Zhejiang province, China, November 23, 2020. Alibaba also happens to … It should come as no surprise Ma’s presence weighs heavily at Ant through his … US lawmakers, government agencies and stock exchanges have since taken steps aimed at limiting Beijing's access to America's vast capital markets. “Ant Group’s valuation may plunge further if its payment unit is forced to break up due to potential anti-trust probes by China’s central bank,” Chan wrote in a research note. Share Email Chinese regulators want billionaire Jack Ma to share consumer-credit data collected from his financial technology company Ant Group , … Invest in Alibaba. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. Whether Ant can keep growing apace, however, is an open question. And finally, some believe Jack Ma, Alibaba’s founder and Ant’s controlling shareholder, had become too visible and too wealthy in the eyes of the party. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. By Sherisse Pham and Julia Horowitz, CNN Business, Updated 0946 GMT (1746 HKT) October 27, 2020. Beijing hopes the company's decision to sell 1.67 billion shares in both Hong Kong and Shanghai, or about 11% of the company in total, will attract the seasoned institutional investors it has long courted. The comments by Ma—Ant Group's controlling shareholder, one of China's richest and most powerful business figures, and a member of the ruling Communist Party—cost him dearly. All rights reserved. Credit Suisse is reportedly stuck with an illiquid stake in Ant. Ant Group's last major fundraising event was in 2018, when investors ploughed $14 billion into the company. Gross profit for the period rose 74% to 69.5 billion yuan ($10.4 billion). Most stock quote data provided by BATS. The previous record for an IPO. In 2015, the company was valued at about $45 billion. Geopolitical considerations have already been a major background factor in Ant's IPO. The shares are due to start trading in Hong Kong on November 5. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. The Swiss bank was part of an exclusive circle to plow money into the Chinese fintech ahead of its planned, then scotched, listing. Lu noted that Ant faces tough competition inside China from rival. It has established its presence in every aspect of financial life in China, from investment accounts and micro savings products to insurance, credit scores and even dating profiles. Alibaba previously held … That means the initial public offering will raise some $34.4 billion and value the company at more than $310 billion. Jing, who is also a major shareholder in Ant Group, said that the operator of China’s largest payments app, Alipay, has been managing the aftermath of … Hong Kong/London (CNN Business)Jack Ma's Ant Group has just pulled off the biggest share sale in history, marking a huge win for the Chinese tech champion and the country's stock market. Alibaba, the NYSE-listed Chinese e-commerce giant, holds a 33% stake in Ant Group. Both Alibaba Group and Ant appear to be substantial shareholders of Megvii Technology mainly through indirectly owned subsidiaries, based on its … The suspension came after Chinese regulators met with Jack Ma, Ant’s controlling shareholder, and other executives, which led to undisclosed “material matters,” the statement said. Ant is closing its Hong Kong institutional book building on Wednesday, a day earlier than scheduled, because of strong demand from global institutional investors, a source familiar with the matter told CNN Business. Central to the crackdown on Ant Group Co., in which Mr. Ma is the controlling shareholder, is what regulators view as the unfair competitive advantage … Factset: FactSet Research Systems Inc.2018. Rowe, Fidelity and Baille Gifford were early shareholders in Ant and are also major backers of Alibaba Group Holding which owns a third of Ant, as well as the South China Morning Post. All rights reserved. Get today's Ant Group Co Ltd stock price and latest 6688 news as well as Ant Group real-time stock quotes, technical analysis, full financials and more. Alibaba itself is the largest holder of the financial-services firm, with a 33% stake. Morningstar: Copyright 2018 Morningstar, Inc. All Rights Reserved. US threats and restrictions against Chinese tech companies such as Huawei, TikTok and WeChat have sent a clear warning, while scrutiny of Chinese firms on Wall Street is rising. Ant is the financial technology company affiliated with Chinese e-commerce group. TechNode", "Ant Financial acquires UK payments firm - Chinadaily.com.cn", "Trump administration to consider adding China's Ant Group to trade blacklist - sources", "U.S. Explores Curbs on Ant Group, Tencent Payment Systems", "Exclusive: Trump administration shelves bid to blacklist China's Ant Group - sources", "Alipay Overtakes PayPal As The Largest Mobile Payments Platform In The World", "Chinese money market fund becomes world's biggest", "Data From Alibaba's E-Commerce Sites Is Now Powering A Credit-Scoring Service", "Pay with your face at this KFC in China", "Ant Financial Group to create one brand across its financial products", "Hoping to Strike Gold Again, Silver Lake Leads Investment in Koubei", "How Ant Financial grew larger than Goldman Sachs", "Alibaba Finance Affiliate Launches Fund Investment Smartphone App", "Millions Rush to Join a Wild New Health Plan From Jack Ma's Ant", "Chinese initiative Ant Forest wins UN Champions of the Earth award", "Alibaba-linked Ant Forest wins top UN green award - Chinadaily.com.cn", "Megvii, the Chinese startup unicorn known for facial recognition tech, files to go public in Hong Kong", "Chinese AI start-up Megvii raises $750 million ahead of planned HK IPO", "Alibaba-backed facial recognition startup Megvii raises $750 million", "AI unicorn Megvii not behind app used for surveillance in Xinjiang, says human rights group", "Addition of Certain Entities to the Entity List", "李开复"口误"？起底"数据交易"传闻下的旷视科技：卖摄像头才是"主业"，蚂蚁是最大股东", "Ant Founder Jack Ma Faces Backlash From Regulators", "Jack Ma Makes Ant Offer to Placate Chinese Regulators", "Chinese Regulators Try to Get Jack Ma's Ant Group to Share Consumer Data", "Fintech: AI powers financial services to improve people's lives", "Alibaba's Ant Financial partners with Hutchison to develop its Alipay service in Hong Kong", https://en.wikipedia.org/w/index.php?title=Ant_Group&oldid=1001312200, Financial services companies established in 2014, Pages with non-numeric formatnum arguments, Short description is different from Wikidata, Articles containing Chinese-language text, Articles containing simplified Chinese-language text, Creative Commons Attribution-ShareAlike License, Hangzhou Alibaba Network Technology (32.65%). 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