A spinoff from billionaire Jack Ma’s Alibaba Group, Ant presents itself as a technology company, while financial regulators suggest the firm remains under their purview.
CHINA’S Ant Group, which is about to make the biggest public sale of shares ever, poses a basic conundrum: what kind of company is it – a financial colossus or a tech giant?
That is important for investors before and after the initial public offering of US$34.4bil, surpassing Saudi Aramco’s record US$29.4bil float last year. Shares are expected to start trading tomorrow in Shanghai and Hong Kong.
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