Ant is valued at roughly $200 billion, and will aim to sell 10% of its shares on Shanghai’s Nasdaq-like STAR board and 5% on the Hong Kong Stock Exchange…
Ant’s success has been due in large part to the massive adoption in China of its mobile-payment platform Alipay. The platform now commands a 55% share of the country’s mobile-payment market, versus rival WeChat Pay’s 39%…
Ant, in comparison with WeChat, has also expanded into a more extensive range of financial services, such as consumer lending, credit ratings and insurance. And it also runs one of the world’s biggest money-market funds, Tianhong Yu’e Bao, in which nearly half of China’s population has some form of investment.
