Ant Group Planning an IPO? 🐜

Alipay, the brand of Ant’s consumer finance app, claims to earmark 1.3 billion annual active users as of March.

As of March, Ant’s wealth management unit facilitated 4 trillion yuan ($570 billion) of assets under management for its partners offering money market funds, fixed income products, and equity investment services.

During the same period, total insurance premiums facilitated by Ant more than doubled from the year before.

Rumours have been around for a long time, though we are seeing a lot of companies seeing the market rally with COVID and speeding up their IPO plans, we’ll see is Ant is one of those.

Seems there was truth in the rumours.

It’ll be exciting to see what happens with the IPO and if they will dual list on any Western exchanges for investors to get exposure into Mainland Chinese finance as well as the potential for financial expansion across Greater Asia.

An excellent summary on Ant and some more details about what could be the biggest IPO to date.

With a lot of investors, including investment trusts and VC groups, who haven’t had a chance to exit on the free market (or even see their valuations on the open market) this will be a massive event.

As more information comes available this has all the excitement of the We IPO but without the dodgy accounting (everyone very much hopes!)