The app for Alipay, the mobile payments service operated by Ant Group, is seen on a smartphone in Beijing on Monday (July 20). Ant Group, the online payments arm of e-commerce giant Alibaba Group, announced plans Monday for an initial public stock offering that could become the world's biggest since the start of the coronavirus pandemic. - AP
Shanghai, July 20 (AFP): Ant Group, the online payments giant affiliated to Chinese e-commerce leader Alibaba, said Monday it had taken the first steps toward a blockbuster dual listing in Shanghai and Hong Kong that could be among the biggest in years.
The IPO by Ant Group -- whose Alipay platform dominates the country's thriving e-commerce market -- also would mark a major step forward in a Chinese government initiative to get its big domestic tech companies to list their shares at home instead of abroad.
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