BFM 89.9

HIGHLIGHTS 
Podcast  >  Morning Run  >  Morning Brief  >  Has The Jack Ma Factor Overvalued Ant Group?

Has The Jack Ma Factor Overvalued Ant Group?

Brock Silvers, Long-time China Investment Executive

23-Oct-20 07:37

Has The Jack Ma Factor Overvalued Ant Group?

Chinese fintech giant Ant Group has cleared the final regulatory hurdle for its IPO after the China Securities Regulatory Commission gave it the all-clear to list simultaneously in Hong Kong and Shanghai.

The Group is planning to raise $35 billion dollars in the dual listing and will split its stock issuance equally across Shanghai and Hong Kong, issuing 1.67 billion shares in each location. This could be the world’s largest IPO, surpassing the record set by Saudi Aramco's $29.4 billion float last December.

Ant Group has also released some updated financial figures for the first nine months of 2020. According to an A-share prospectus posted on the Shanghai exchange, there was a 74% jump in gross profit to $10.4 billion from January to September and revenue was $17.73 billion, a more than 42% year-on-year rise.

The Group’s next move is to hold a roadshow to market the IPO to investors and will likely price the shares next week on 27th October.

Image Credit: Shutterstock.com

Produced by: Arleen Webber

Presented by: Lyn Mak, Roshan Kanesan, Wong Shou Ning


This and more than 60,000 other podcasts in your hand. Download the all new BFM mobile app.

Categories:  Personal FinanceInvestmentsFinancial LiteracyTechnologyTechBusiness AnalysisTrends and ForecastsMarkets

Tags:  IPOAnt GroupAlibabaJack Ma





Play / Pause

Listen now : BFM 89.9 -- The Business Station

Today’s Shows



11:00 AM

A Bit of Culture (REPEAT)

Incivility & Conspiracy Theories; Kam Raslan | Matt Armitage | Zan Azlee

12:00 PM

I Love KL (REPEAT)

The Golden Legacy of Bok House; Elizabeth Cardosa

1:00 PM

Best of Enterprise (REPEAT)

From Plates to Pixels; Shermaine Wong, Co-Founder and CEO, Cult Creative

2:00 PM

Popcorn Culture (REPEAT)

Mufasa The Lion King + Favourite Movies of 2024

3:00 PM

GGWP (REPEAT)

Review - Infinity Nikki; Jonathan Leo, Content Director, Kakuchopurei.com

4:00 PM

Pick Of The Pops

Ep570; Patrick Teoh

6:00 PM

The Pulse (REPEAT)

Tracks of the Year #2