Thanks to its modernizing economy, the Chinese e-commerce industry will grow twice as quickly as U.S. e-commerce through 2023.

They may work this year, but stop working next year, depending on China’s regulations,” said a Hong Kong-based equity analyst with a Japanese asset manager. We believe in free, fair and credible journalism. Ant, an affiliate of Alibaba Group, is now 50% bigger than Goldman Sachs.Ant’s most recent valuation came in at $150 billion, compared to Goldman Sach’s $99 billion. Ant’s status as one of the biggest tech groups in China is also boosting demand. “If you miss this one, you don’t know when the next one comes.”. Key things to know about Ant Group IPO: At about $315 billion market valuation, Ant Group is worth more than the gross domestic product (GDP) of Egypt ($303 billion), and Finland ($269 billion). Consider BABA Stock Instead, 47.3% of China’s cloud computing market share, MoneyLine Podcast: Everything You Need to Know to Prepare for Tomorrow’s Election, 8 Ways to Make Money in a Turbulent Market, Trump vs. Biden: Stocks to Buy No Matter Who Wins the White House, 8 Tech Stocks Of Tomorrow Investors Should Buy Today, 7 Strong Nasdaq Stocks to Buy Before They Keep Marching Higher, 20 Election Stocks to Buy if Joe Biden Wins in 2020, 4 Stocks to Build a Better Growth Portfolio — With Income, Pick Your Entry Into Palantir Stock With Confidence. Save my name, email, and website in this browser for the next time I comment. A magistrate judge said this week she’s unlikely to allow the country to implement prohibitions on Wechat while the government appeals her earlier ruling. At a valuation of around $150 billion, Ant will trail only the big four state-controlled banks and insurer Ping An among financial-focused firms in China. This environment is likely a major reason Ant chose to list on exchanges in Shanghai and Hong Kong, rather than follow Alibaba to Wall Street. Since very few Chinese had debit or credit cards in Alibaba’s early years, the company needed to create its own version. The shares are due to start trading in Hong Kong on November 5.

The company has transformed from its early escrow days. “These things that Ant is doing are quite innovative and new. Based on traditional price-earnings measures, $150 billion implies a price 71 times Ant’s 2017 pre-tax profits or 85 times its net profits, assuming a tax rate of 16 per cent - the average paid by Alibaba in recent years.

The report, which cites two people familiar with the matter, claims Ant will sell 5% to 10% of its shares in the IPO, with a target valuation of over $200 billion. All rights reserved. Alibaba, the NYSE-listed Chinese e-commerce giant, holds a 33% stake in Ant Group. If all goes well, Ant will be bigger than Goldman Sachs or Wells Fargo.
Ant also sells wealth management products and offers small loans and credit scores, among other ventures. Ant, expected to go public in the next two years, has vowed to reach 2 billion users worldwide in the next decade and it has been investing overseas, buying a stake in Indian payment firm Paytm and Thai financial technology firm Ascend Money, among others. If it’s delayed much further, the IPO risks straddling the Nov. 3 US election where some expect a surge in postal ballots to create prolonged uncertainty. Article printed from InvestorPlace Media, https://investorplace.com/2020/10/ant-group-ipo-baba-stock/. This fourth-grader doesn't have WiFi at home. as a comparison and valued Ant at $133 billion, equivalent to seven times their estimate for its 2019 sales - in line with the multiple implied by PayPal's share price. A valuation of over $200 billion would make Ant larger than some of America's biggest banks including Goldman Sachs and Wells Fargo. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. “Ant Group really is the crown jewel of Jack Ma and … of China’s internet industry,” said Edith Yeung, general partner at Race Capital and creator of the China Internet Report. 1125 N. Charles St, Baltimore, MD 21201. Jefferies analysts, who believe up to 70 per cent of Ant's 2017 business came from online payments, used Paypal. Hong Kong/London (CNN Business)Jack Ma's Ant Group has just pulled off the biggest share sale in history, marking a huge win for the Chinese tech champion and the country's stock market.

According to figures from Alibaba Alipay and its e-wallet affiliates have around 1.2 billion annual active users, of whom 900 million are located within China. That’s far ahead of Amazon’s 37.7% share in the United States.

A 2018 fundraising previously gave Ant Financial an implied value of $150 billion, to make it one of the world’s most highly valued private concerns. And the remaining shares in BABA gets you a strong e-commerce and cloud computing franchise too. At $280 billion, Ant would be bigger than Bank of America Corp. and three times the size of Citigroup Inc., while its sale would top Saudi Aramco’s record $29 billion raise.

Team Business Standard, The Hangzhou-based company is lifting the target by at least 12 per cent from a previous estimate of $250 billion after initial discussions with investors, Last Updated at October 17, 2020 00:55 IST, QQQ Capital Management soars 275% with bets on China schools: Report, Sanofi offers to buy Dutch biotechnology firm Kiadis for $358.4 million, Abu Dhabi govt poured billions into Etihad Airways before pandemic, Jack Ma summoned by China's regulators on eve of Ant Group debut, McDonald's hires new diversity chief amid corporate turmoil, racism charges, Watchdogs hold talks with Ant as China releases draft online lending rules, Laobaixing, Yixintang in talks to create China's largest drugstore: Report, Alibaba's secret three-year experiment to modernise China's old factories, Nielsen to sell consumer goods data arm to Advent for $2.7 billion, Rolls-Royce Holdings plans to sell its Bergen engines unit: Report, Post Covid-19 cold war world will be a tough place for Jack Ma's Ant Group, Ant Group files for HK-Shanghai IPO; first-half profit rises 1,000%, Jack Ma's Ant Group plans to lift IPO funding target to $35 billion, Goldman Sachs joins Ant Group's up to $30 bn IPO banking syndicate: Report, Jack Ma's Ant Financial plans dual IPO, targets $225 bn valuation: Report, Access Exclusive content - articles, features & opinion pieces, Weekly Industry/Genre specific newsletters - Choose multiple industries/genres, Access to 17 plus years of content archives, Set Stock price alerts for your portfolio and watch list and get them delivered to your e-mail box, End of day news alerts on 5 companies (via email). What does this mean for Alibaba? Large Chinese insurers and mutual funds will also have shares allocated via the strategic investor route, Monday's filing showed. All rights reserved. Ant has added Barclays Plc, ICBC International and BOC International to its list of joint book runners for the Hong Kong sale, people familiar said. It will also be about 50 percent more valuable than Wall Street titans Goldman Sachs, Other groups have used alternative means of valuing Ant. It'll be listed in Shanghai and Hong Kong as the largest IPO of all time. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. The sources said that small holdings of shares in Ant Financial were traded in the secondary market late last year to imply a value of $200 billion. Both are keen to increase their dominance. 2020 InvestorPlace Media, LLC. How China's Ant Group built a $17 trillion payments machine, False video of Biden aims to make him look unfit for office. Ant Group started life as a side-project of Alibaba. Barclays analysts this month valued the company at $155 billion, based on multiplying their estimate of Ant’s 2019 net operating profit less adjusted tax (NOPLAT) by what they said was its conservative price/earnings ratio of 28. Analysts at Barclays estimate that online payments accounted for 55 per cent of Ant’s $8.9 billion revenue last year, but they expect that to fall to one-third by 2021 as the company focuses on encouraging its 600 million customers to use more of its other, higher-margin services. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. In 2019, Ant Group generated 24.0 billion RMB of operating profits ($3.5 billion) and a 40% top-line growth rate. The Trump administration is exploring restrictions on Ant, as well as rival Tencent Holdings Ltd., over concerns that their digital payment platforms threaten US national security.
The previous record for an IPO. Copyright © Ant is closing its Hong Kong institutional book building on Wednesday, a day earlier than scheduled, because of strong demand from global institutional investors, a source familiar with the matter told CNN Business.


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