Ant Group’s IPO unlikely to be hurt by possible US curbs

If implemented, the restrictions would illustrate how Trump’s administration is seeking to prevent Chinese companies from embedding themselves in the US financial system before they become a significant competitive threat.

HONG KONG: Ant Group’s US$35bil initial public offering (IPO) is unlikely to suffer from any US restrictions on the Chinese financial technology giant due to its very limited overseas presence, potential investors and analysts said.

Trump administration officials are considering curbs on Ant, an affiliate of Chinese e-commerce firm Alibaba, and Tencent over concerns their payment platforms threaten national security, Bloomberg News reported.