#Payments / Ant Group says it’s shooting for a record-breaking $30 billion IPO by October

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.

https://www.marketwatch.com/story/ant-group-says-its-shooting-for-a-record-breaking-30-billion-ipo-by-october-11596494575?mod=mw_latestnews