Ant Group is best known for its Alipay mobile wallet, a popular alternative to cash in ChinaAnt Group has unveiled plans for a stock market float expected to value China’s dominant digital payments provider at more than $200 billion. It took its first step yesterday to go public in both Hong Kong and Shanghai in a listing that could eclipse last year’s record-breaking float of Saudi Aramco, the giant state oil company. Ant, which is controlled by Jack Ma, the Chinese tycoon, is said to be considering selling as much as 15 per cent of its shares at a valuation of between $200 billion to $250 billion. It will begin a roadshow for investors this week and if demand is strong enough it could raise more than the $29.4 billion generated by the Aramco’s flotation last year. It declined to

Source: The Times August 25, 2020 23:03 UTC