Veteran Chinese fintech company Ant Group had set a target of raising about $ 34 billion from share trading. Bank Governor Gang Yi has suggested that Ant Group’s stock market listing may be reconsidered under favorable circumstances.
The Ant Group, headed by Chinese billionaire Jack Ma, is set to enter the stock market according to financial regulations. China’s central bank governor indicated that the Ant Group would remain open to the stock market. Stock trading in Hong Kong and Shanghai was started in November 2020.
Veteran Chinese fintech company Ant Group had set a target of raising about $ 34 billion from share trading. Bank Governor Gang Yi has suggested that Ant Group’s stock market listing may be reconsidered under favorable circumstances.
Significantly, China tech giant Ant Group was abruptly stopped before the $ 34.4 billion worth of shares were set in the market. After listing in Shanghai and Hong Kong, this will be the biggest stock market debut ever.
Ant operates Ali Pay, China’s largest payment app. It is one of the two online payment services in China. Let there be more than 730 million monthly users. The company runs the world’s largest money market as well as runs credit rating system and Sesame credit for its users.
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Jack Ma, founder of Ant Group and Alibaba, was already one of the richest people in the world. Their net worth has increased after undergoing double-listing. Ant Group will list itself on the Shanghai and Hong Kong exchanges.
