Alipay acts as the only third-party agency for retail investors looking to buy into the five Chinese mutual funds investing in the IPO.
Ant’s move for control comes as the regulatory process for its dual listing marches quickly ahead, outpacing other listings in the Hong Kong and Shanghai exchanges.
Why Zalo has the potential to be Vietnam’s definitive super app, and how iPrice’s latest funding round has opened doors for the company.
Millions in China have enrolled in a mutual aid plan to get low-cost health coverage. But could this model take root in Southeast Asia?
Fintech in Indonesia is currently at 10% to 15% penetration nationwide, but industry sources are bullish about the next five years.
The soon-to-IPO Ant Group is rapidly expanding its technology’s global reach. Before long, it will clash with payment incumbents in the West, including Visa and Mastercard.
The two flagships of Hong Kong tycoon Li Ka-shing hold 8.91 million each of Ant’s class C shares, while family members of Tung Chee-hwa own 1.78 million.
Ant Group said it has started the process of a concurrent IPO on Shanghai’s Nasdaq-style Star Market and Hong Kong stock exchange.
Ant Group announced that its self-developed database product OceanBase will start operating as an independent company and Ant Group’s CEO Hu Xiaoming will be chairman of the new company. It is said that the new company will release a major version upgr…