Ant Group is going public

Ant Group plans a concurrent listing on Shanghai Stock Exchange’s STAR market and The Stock Exchange of Hong Kong

20 July, 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.

Safe Harbor Statement

This release does not constitute an offer of securities for sale in the United States or an invitation or solicitation of an offer to acquire, purchase or subscribe for securities in Hong Kong, and any securities described herein may not be offered or sold in the United States absent registration or an exemption from registration; any public offering of securities to be made in the United States or Hong Kong would be made by means of a prospectus that is registered and may be obtained from the issuer, which would contain detailed information about the company and management, as well as financial statements.

Source: Ant Group (medias)