BFM 89.9

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


Download the BFM mobile app. Stay at home and stay up-to-date.

Tags:  IPOAnt GroupAlibabaJack MaFinancial ServicesInternet, e-Business, e-commerceCEO/Business leadersEconomy, MarketsTechnology news, reviews


Business
Money

Share this podcast




Play / Pause

Listen now : By the Book: Halloween Picks

Today’s Shows



6:00 AM

The 6AM Stretch

7:05 AM

Market Watch

7:15 AM

Morning Brief

8:05 AM

The Breakfast Grille

Suresh Shunmugam, Managing Director, General Electric Engine Services Malaysia

8:30 AM

Morning Brief

9:00 AM

Opening Bell

9:35 AM

BBC World Service

10:05 AM

Open For Business

Rosaline Chow, Founder and CEO of CXA Group

11:05 AM

Resource Centre

Arlene Wherett, Vice President & Managing Director of Sage in Asia

12:00 PM

Enterprise Biz Bytes

1:00 PM

The Breakfast Grille Repeat

Suresh Shunmugam, Managing Director, General Electric Engine Services Malaysia

2:05 PM

Live & Learn

Budget 2022: When Will We Start Prioritising Older Persons?

3:05 PM

Today I Learned

Why Are People Racist? (REPEAT)

4:05 PM

Health & Living

Menstrual Problems and Infertility

5:05 PM

The Evening Edition

5:35 PM

KIV

6:05 PM

Inside Story

7:05 PM

The Evening Edition

7:35 PM

Popcorn Culture - Throwback

Roh

8:05 PM

By the Book

Halloween Picks

9:00 PM

Bar None