Finance Breaking news Ant files for IPO last financial news

Breaking-Finance.Com - Chinese fintech giant Ant Group made a $3.2 billion profit in the first half of 2020, according to paperwork filed to list its shares in Hong Kong and Shanghai.

Finance Breaking news Ant files for IPO last financial news

Breaking-Finance.Com - Chinese fintech giant Ant Group made a $3.2 billion profit in the first half of 2020, according to paperwork filed to list its shares in Hong Kong and Shanghai.

Finance Breaking news Ant files for IPO last financial news
25 August 2020 - 19:30

Breaking-Finance.Com - Chinese fintech giant Ant Group made a $3.2 billion profit in the first half of 2020, according to paperwork filed to list its shares in Hong Kong and Shanghai. Ant is prepping a concurrent listing on the Shanghai Stock Exchange’s Star board and The Stock Exchange of Hong Kong that could see it raise about $30 billion at a valuation in excess of $200 billion. The filings show Ant brought in revenues of 72.5 billion yuan ($10.5 billion) in the first half of the year. This compares to revenues of 120.

.5 billion). Alipay still accounts for much of Ant's revenues; the mobile payments app has over a billion annual active users and was used for $16 trillion in transactions last year. Digital payments and merchant services accounted for 43% of revenues while the firm's credit platform accounted for 34.7%, its investment platform 14.1% and its insurance offering 7.4%. Proceeds from the IPO will be used to expand cross-border payments and boost research and development, says the filing.

Source = Breaking-Finance.Com

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Finance Breaking news Ant files for IPO last financial news


Finance Breaking news Ant files for IPO last financial news


Finance Breaking news Ant files for IPO last financial news


Finance Breaking news Ant files for IPO last financial news

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