Ant, the financial affiliate of e-commerce giant Alibaba Group, saw its $37 billion IPO derailed by regulators last year and has since been working to turn itself into a financial holding firm. Local media on the weekend reported changes at Jiebei after Chinese reg...
Ant Financial (now known as Ant Group), Alibaba’s prized fintech arm, has gone through a chaotic six months. On November 3, Ant’s projected $35 billion IPO was suspended. Then, Ma and other Ant executives were ...
but it was going to increasingly fall under being regulated like a bank," Ahern said. "I think the regulator said all of the revenue, profitability, in the IPO prospectus is backward looking, and under this new regulatory regime, the company is still a great, great company, but certainly...
Ant's $37 billion IPO, which would have been the world's largest, was cancelled at the last minute in November 2020, leading to a forced restructuring of the financial technology firm and speculation the Chinese billionaire would have to cede control. While some analysts have said a ...
Ant Group’s 674-page Hong Kong prospectus reveals the extent of its empire, risk factors related to geopolitical tensions, and financial regulations. Here are five key takeaways. 1. Impressive profits and growth potential In the first half of 2020, the company earned RMB 72.5 billion in reven...
The company described its credit risk assessment process in its IPO prospectus: “Based on customer insights and risk rating in terms of spending, assets, liabilities, occupation, and other parameters such as financial stability, we categorize all Alipay users into different risk categories. […] ...
Ant's prospectus Ant Group has developed its own dynamic consumer credit risk approach with over 100 credit assessment models. Per the prospectus: Based on customer insights and risk rating in terms of spending, assets, liabilities, occupation, and other parameters such as financial stability, we ...
Ant now envisions growing beyond just fintech -- an ambition marked by the change of its registered name from Ant Financial Services Group to Ant Group Co in May this year Ant is set to join the top echelon of global finance alongside Bank of America Corp, as it seeks to raise about ...
Loose regulations can explain the jaw-dropping growth rate of Ant since 2004. As the IPO prospectus shows, Ant’s Alipay app has more than 710 million monthly users and 80 million monthly active merchants making use of the Alipay platform. The turnover of Alipay digital payments was 118 trill...
Now, Alibaba has a 33% stake in Ant through its subsidiaries, a move that analysts thought would help the Chinese e-commerce giant benefit from a potential Ant IPO down the line. “Equity ownership allows us to participate in the long-term value creation of...