Digital financial services giant Ant Group is on the cusp of pulling off the world’s biggest initial public offering and could be worth over $500 billion in the near future, riding on the digitization of financial services in the world’s second-largest economy.
Ant’s coming out parade illustrates China’s lead in digital finance. Its super-slick mobile payment app, Alipay, has over 1 billion users, who can click on the Alipay app for services ranging from food deliveries to garbage collection.
It is the world’s most popular app outside social-media networks.
Ant plans to plough the $34.5 billion it is raising from dual listings in Hong Kong and Shanghai into future revenue drivers, such as bl
Oct 29, 2020