Chinese fintech firm Ant Group has begun the process of a concurrent initial public offering in Shanghai and Hong Kong.
Chinese fintech firm Ant Group has begun the process of a concurrent initial public offering in Shanghai and Hong Kong.
Ant, an affiliate of e-commerce giant Alibaba, said Monday 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 CEO Eric Jing said in a statement.
