Ant Group is still capable of clinching the world’s largest initial public offering — even as Chinese regulatory hurdles weigh heavily on the company, says one of the country’s big investors, CNBC reports. Liu Qiang, vice president of Fosun Technology and Financial Group, which owns a small stake in Ant Group, said Ant's underlying technology and access to an ecosystem of underserved customers remains a strong investment proposition. “I still believe they can create the record,” Liu, who is also deputy chairman of Hani Securities, told CNBC’s Arjun Kharpal on Tuesday. Liu welcomed the regulatory move, noting that financial products that are both online and offline ought to be regulated. He noted that it’s “one of the few” companies that can successfully manage “all three dimensions” required of a financial technology company: capital flow, data flow, and commerce flow.

Source: The Standard November 18, 2020 04:37 UTC