HONG KONG: Billionaire Jack Ma’s Ant Group filed for an initial public offering (IPO) in Hong Kong and Shanghai to bankroll its expansion in financial services and bolster its lead as China’s largest online payments platform.
Ant would use the proceeds from the sale to expand cross-border payments and enhance its research and development capabilities, it said in a filing, without providing a share price range or amount to be raised in the IPO.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!