Ant Group IPO preparation comes amid rising tensions between China and the U.S. over issues spanning trade and politics. Ant Group, the Chinese payments giant, will float its initial public offering on the … Ant is affiliated with e-commerce giant Alibaba , which raised a record $25 billion when it debuted on Wall Street in 2014 — still the world's second largest IPO to date. In October 2020, Ant Group was set to raise US$34.5 billion in the world's largest IPO at the time, valuing the company at US$313 billion. Ant Group is a financial technology company. Alibaba owns 33 percent of Ant Group. The 204 Chinese companies listed in Hong Kong were up +0.46%, led by discretionary +2.13%, staples +1.73%, materials +.1.23%, tech +1.09%, and health care +0.84%, while energy was off -1.43%, real estate -0.64%, and financials -0..49%. Trading is expected to begin Nov. 5. I suppose this is not that surprising. MSCI China All Shares Index rose +1.04%, led by staples +2.47%, discretionary +2.3%, communication +1.36%, industrials +1.29%, tech +1.1%, health care +1.1%, and utilities +0.51%, while real estate was off -0.36%, and financials -0.14%. It will be interesting if the Five-Year Plan policy meetings provide the catalyst to punch through. Ant Group's IPO date looks to be around the corner as the company prepares to file paperwork in Hong Kong and Shanghai to formally kick off the public listing process. Currently, Ma’s wealth is slightly above Pony Ma, who is another Chinese technology billionaire. Interest in EVs continues as supportive policies are lifting the sector while car sales continues to rebound. Ant Financial filed for a dual listing. The documents Ant filed to the Hong Kong Stock Exchange on … The company has departed from the path of its former parent Alibaba, which listed its stock in Hong Kong in 2019. After delay, Ant Group’s gargantuan IPO set for early November Alibaba affiliate Ant Group offers financial services to an enormous population that had previously been neglected by China’s … I am the Chief Investment Officer of KraneShares, a China-focused provider of exchange-traded funds (ETFs). The big news was the green light for Ant Group’s Hong Kong IPO from the local regulators as speculation on the listing date is either the first or second week of November. The Ant Group IPO, unlike the IPOs of previous Chinese tech giants, will skip a listing in the financial center of the world amid escalating U.S.-China trade tensions. The Shanghai trading date has not yet been disclosed. Volumes were light in both markets as investors sit on their hands and cash due to the US election and Ant IPO coming. In 2018, Ant Group — formerly Ant Financial — raised $14 billion in a fundraising round on what The Wall Street Journal reported was a $150 billion valuation. The company started out providing mobile payment services through the Alipay brand. It was a shock for investors worldwide: Only a few days before the supposedly largest stock market debut in the world, the Alibaba financial subsidiary Ant Financial canceled its double IPO. Follow our head of US Joanie Xie's journey into online payments, connecting US retailers to @Alipay 900m users in China via digital lifestyle marketing & value chain transformation @JingDaily #communityprofiles #womenintech #fintech https://t.co/Oqt78VGR97. However, the company hasn't picked a firm date for its public listing. The company will start the IPO roadshow on the same day. Ant Group is the world's highest-valued FinTech company, and most valuable unicorn company. CNY has gained 6.76% since May 27th, a high of 7.16 closing today at 6.68. About a week later, Ant priced its shares at $10.32 and $10.26, respectively. Opinions expressed by Forbes Contributors are their own. Krane Funds Advisors, LLC is majority owned by China International Capital Corporation (CICC). I am the CIO of KraneShares, a China-focused ETF provider. The company has chosen China over the U.S. for its IPO. Mainland liquor stocks had a strong day, which lead staples higher. WATCH: Alibaba co-founder Jack Ma cut his stake over the past year to 4.8% from 6.2% https://t.co/0VL4eaj9Cl pic.twitter.com/7WZbdLtcB0. This company has completely transformed finance in China. October 8, 2020. A simpler way to invest in Ant is to buy shares of Alibaba. Ant Group changed name in June 2020 from Ant Financial Services Group. We’ve noted that Shanghai and Shenzhen have been in a range since July. The Hong Kong leg of the IPO is being sponsored by China International Capital Corp (CICC) 3908.HK, Citigroup Inc C.N, JPMorgan Chase & Co JPM.N and Morgan Stanley MS.N. The 517 Mainland stocks within the MSCI The timing of what's likely to be the world's biggest IPO coincides with the U.S. 2020 election. Remember that China hasn’t cut interest rates unlike many EM countries or like Japan and Europe’s negative interest rates. Ma owns a 4.8 percent equity stake in Alibaba. Klarna is a “buy now, pay later” program. This meant the Ant Financial IPO would be the biggest to date… Reportedly, however, Alibaba … As a pioneer within the ETF industry I experienced the surge in popularity of ETFs firsthand, helping an industry-leading global ETF provider grow AUM from a few million to over $1.5 trillion. Strategic investors have agreed to subscribe to 80% of the company's … The Hang Seng managed a gain +0.11%/27 index points to close at 24,569 as volume dropped -19% to back below the 1-year average. The big news was the green light for Ant Group’s Hong Kong IPO from the local regulators as speculation on the listing date is either the first or second week of November. It was later renamed Ant Financial, before its recent name change to Ant Group. delisting of their stocks from U.S. exchanges. A few weeks back we noted HSBC’s target of 6.50 which is looking increasingly likely. We also had news that China’s Uber We help investors stay up to date on global market trends and aim to provide meaningful diversification. Krane Funds Advisors, LLC is the investment manager for KraneShares ETFs. By Tom Taulli, InvestorPlace Writer & IPO Playbook Editor Sep 2, 2020, 7:15 am EST. Ant Group plans a dual listing of its shares in Hong Kong and Shanghai. Asian equities were mixed with Japan lagging, though markets were lifted on reports that US stimulus talks might be back on track. Ant Group to join top echelon of global financial firms after mega IPO Source: Bloomberg Note: Ant valuation based on target IPO raise, according to people familiar with the matter. Previously, Alibaba had a profit-sharing arrangement with Ant Group. slayer Didi Chuxing is considering a 2021 IPO. August 31, 2020 2332 Alibaba’s payments arm, Ant Group/Financial has filed for IPO in both Hong Kong and Shanghai to issue at least 10% in new shares of its total capital. There was chatter that both New Orient Education (ticker EDU US) and GDS Holdings (GDS US) will be relisting in Hong Kong. Leveraging my experience working in capital markets, voracious appetite for global financial news and a touch of humor, I aim to provide readers with an informative daily roundup of key headlines and data from China’s financial markets. We still need the Mainland/STAR Board IPO to be approved, though the approval is expected this week.