Jack Ma's Ant Group set out to disrupt China's banks but now partners with many of them while counting huge Chinese institutions as shareholders
The tech giant, which is preparing for a mega I.P.O., has transformed personal finance in China. Regulators have taken notice.
New York Times
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Discussion
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@zhonggg
Raymond Zhong
on x
Jack Ma used to talk a lot about disrupting China's state-dominated financial system. Now, Ant is going public not as a scrappy upstart, but as a leviathan deeply dependent on the good will of the government he once relished prodding. https://www.nytimes.com/...
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@piie
Peterson Institute
on x
“If you can't actually reform the banks,” @ChorzempaMartin says, “you can inject more competition.” https://www.nytimes.com/...
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@thestalwart
Joe Weisenthal
on x
Wow. with its IPO pricing, Jack Ma's Ant Financial is going to be bigger than JPMorgan and 4x bigger than Goldman Sachs https://www.bloomberg.com/... https://twitter.com/...
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@sarahponczek
Sarah Ponczek
on x
“Hong Kong stockbrokers are so confident Ant IPO will go smoothly that they're offering to let mom-and-pop investors buy the stock with as much as 20 times leverage” @business https://www.bloomberg.com/...
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@greatdismal
William Gibson
on x
Pleases me that their trademark's graphic is blue, even if not an ant. https://twitter.com/...
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@zhonggg
Raymond Zhong
on x
Alipay's parent company is aiming for a monster haul when it goes public in the coming weeks: $34 billion, more than any other I.P.O. on record. https://www.nytimes.com/...
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@arjunkharpal
Arjun Kharpal
on x
BREAKING: Ant Group will raise $34.5 billion in upcoming dual listing, making the biggest IPO ever. It will be valued at over $313 billion, larger than some of the top US banks. And shares begin trading in Hong Kong on Nov. 5. All the details here: https://www.cnbc.com/...