Ant FInancial chief executive Eric Jing says becoming a public company will improve transparency to our stakeholders. Chinese fintech firm Ant Group has begun the process of a concurrent initial public offering in Shanghai and Hong Kong, CNBC reports. Ant, an affiliate of e-commerce giant Alibaba Group, said today that it would list its shares on both the Shanghai stock exchange’s STAR — a Nasdaq-style tech board — and the Hong Kong stock exchange. The dual listing will help Ant “accelerate its goal of digitizing the service industry in China,” the company said. “Becoming a public company will enhance transparency to our stakeholders, including customers, business partners, employees, shareholders and regulators,” Ant chief executive, Eric Jing, said in a statement.

Source: The Standard July 20, 2020 11:15 UTC