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27.10.20_The biggest IPO in history? Chinese giant Ant Group will receive up to $ 35 billion

Millions of investors are preparing for the largest IPO the world has ever seen – Chinese giant Ant Group IPO. The world’s largest FinTech company will hit markets at any moment and is expected to raise up to $ 35 billion, breaking Saudi Aramco’s current IPO record of $ 29.4 billion.

Ant Group, formerly known as Ant Financial and Alipay, is an affiliate of the Chinese Alibaba Group. It is the world’s most valuated FinTech company and the most valuable $ 150 billion unicorn (start-up) company.

In March 2019, The Wall Street Journal reported that Ant’s flagship, Tianhong Yu’e Bao Money Market Fund, had become the largest in the world, with more than 588 million users using Ant Group’s Alipay mobile payment network, which is more than a third of China’s population.

The shares will also be traded on the largest stock exchanges, such as Capex and Clicktrade.

History:

Financial information:

Ant Group reported it generated $ 17 billion in revenue last year, a jump of more than 40 percent from 2018.

More than half of its income in 2019 came from financial services such as loans, property management and Alipay insurance.

Fees generated by processing payments and servicing merchants accounted for almost all of the rest of revenue.

The company reported $ 17 trillion in transactions took place on Alipay last year, a one-fifth increase over the previous year.

They also note that the platform has provided $ 290 billion in loans to individuals and small businesses and $ 500 billion in investment.

Key people:

Eric Jing (Executive Chairman and CEO), Cheng Li (CTO), Douglas Feagin (Senior Vice President, Global Business)

Here are five reasons why analysts are inclined to speculate on the purchase of the most anticipated IPO of 2020:

  • Ant Financial is the world’s largest company, FinTech, with a value of $ 150 billion
  • It operates Alipay, the world’s largest platform for mobile and online payments, worth $ 17 trillion
  • Ant Group includes Yu’e Bao, the largest money market fund with more than 588 million users
  • Ant Group reported they earned $ 17 billion last year, up 40% from 2018
  • The company of the founder of Alibaba, Jack Ma, has already received almost USD 9 billion before the IPO from the mutual fund

 

Sources: wsj.com, reuters.com, seekingalpha.com, marketwatch.com

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