As IPO looms, all you need to know about Jack Ma’s Ant Group

Bloomberg
Bloomberg8/31/2020 11:38 AM GMT+08  • 7 min read
As IPO looms, all you need to know about Jack Ma’s Ant Group
Billionaire Jack Ma’s Ant Group is poised to pull off what could be the biggest initial public offering ever by simultaneously listing in Hong Kong and Shanghai, gunning for a valuation of US$225 billion (S$305.52 billion).
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Billionaire Jack Ma’s Ant Group is poised to pull off what could be the biggest initial public offering ever by simultaneously listing in Hong Kong and Shanghai. It’s said to be gunning for a valuation of US$225 billion (S$305.52 billion), making it the world’s fourth-largest financial company.

A 2011 offshoot of Chinese giant Alibaba Group Holding Ltd., the firm has defined and dominates the Chinese payments market through its ubiquitous Alipay app. It also runs the giant Yu’ebao money market fund and the Huabei and Jiebei consumer lending units.

Based in Hangzhou, a sprawling metropolis south of Shanghai, its ambitions run much deeper than just finance. Here’s a thumbnail look at the business units and the challenges faced by the firm.

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