It’s official: Jack Ma’s Ant Group, could raise more than $34 billion in the world's largest public debut.
The Chinese fintech will set up the price for its Hong Kong
offering on Friday listing, which will make it one of the most valuable financial
institutions in the world.
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Overview:
Ant Group, formerly known as Ant Financial and Alipay, is an
affiliate of the Chinese Alibaba Group. The company is also the world's
highest-valued FinTech and the most valuable start-up, with a valuation of
US$150 billion.
As of 26 April 2016, Ant had around 450 million annual
active users. By late January 2017, it reached a valuation of $60 billion.
On 9 June 2018, the company raised around US$14 billion,
which the Times of India called "the biggest-ever single fundraising
globally by a private company."
In August 2020, the company filed the documents for IPO with
plans of raising $30 billion.
Stats:
·
More than half of its 2019 revenue came from
financial services such as lending, wealth management, and insurance.
·
The company reported $10.5 billion
revenue for the first six months of 2020, up 38% from the same period a year
earlier. Profit hit $3.2 billion.
·
Ant Group operates Alipay, the world's largest
mobile and online payments platform, worth $17 trillion.
· Ant
Group includes Yu'e Bao, the biggest money-market fund,
with over 588 million users.
·
Ant said it generated $17 billion in revenue
last year, 40% more than in 2018.
·
Jack Ma's corporation already raised close to $9 billion pre-IPO.
Services:
Alipay
The world's largest digital payment platform was created in
2004, while its mobile version appeared in 2009.
Alipay has 711 million active users, mostly in China.
The platform contributed 36% of Ant Group revenue in the first half of 2020.
Huabei and Jiebei loaning platforms
Huabei and Jiebei are divisions of Ant Group, focusing on
quick consumer loans. The platforms granted loans to approx. 500 million people
from June 2019 to June 2020.
CreditTech, which includes Huabei and Jiebei, is its single
biggest revenue maker, contributing 39% of Ant Group’s total revenue in the
first half of the year.
Ant Fortune & Yu'e Bao Money Market Fund
In 2013, Ant Group created a money market fund that allowed
people to earn interest from the cash they invest in the app.
In 2015, Ant Financial launched Ant Fortune, a wealth
management platform. Yu'e Bao is one of the products on the platform.
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If everything goes according to the plan, the Ant Group IPO
will smash past Saudi Aramco’s $25 billion record. The company’s valuation could
get as high as $313.37 billion, surpassing American giants such as Goldman Sachs
and Wells Fargo.
Ant Group will hit the Hong Kong Stock Exchange on November
5. To help you get ready and trade it instantly when it goes live, we prepared
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Sources: businessinsider.com, marketwatch.com, Wikipedia.com,
cnn.com