Ant Group unveils plans for listing on Shanghai Stock Exchange and The Stock Exchange of Hong Kong

Maria Nikolova

The Group has commenced the process of a concurrent initial public offering on the Shanghai Stock Exchange’s STAR board and The Stock Exchange of Hong Kong Limited.

Provider of financial services technology Ant Group today announced that it has commenced the process of a concurrent initial public offering (“PO) on the Shanghai Stock Exchange’s STAR board (SSE STAR market) and The Stock Exchange of Hong Kong Limited (the SEHK). The listings are set to help the company accelerate its goal of digitizing the service industry in China and driving domestic demand, as well as position the company to develop global markets with partners and expand investment in technology and innovation.

Ant Group notes that it aims to create the infrastructure and platform to support the digital transformation of the service industry. It seeks to enable all consumers and small businesses to have equal access to financial and other services that are inclusive, green and sustainable.

“The innovative measures implemented by SSE STAR market and the SEHK have opened the doors for global investors to access leading edge technology companies from the most dynamic economies in the world and for those companies to have greater access to the capital markets. We are thrilled to have the opportunity to play a part in this development,” said Eric Jing, Executive Chairman of Ant Group.

“Becoming a public company will enhance transparency to our stakeholders, including customers, business partners, employees, shareholders and regulators. Through our commitment to serving the under-served, we make it possible for the whole of society to share our growth,” Mr Jing added.

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