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Ant didn’t give a time frame for its IPOs or a fundraising target, but a person familiar with the matter said the company is aiming for a market valuation exceeding $200 billion and hoping to list later this year. Ant is moving to list closer to home while tensions flare between the U.S. and China, including threats of sanctions on Chinese officials and delisting Chinese firms from U.S. stock exchanges.
Ant said going public will help it “accelerate its goal of digitizing the service industry in China,” position the company to expand with partners globally and enable it to invest further in technology and innovation. Its executive chairman Eric Jing also said the listing would also help the development of Shanghai’s STAR market as well as the stock exchange of Hong Kong by drawing global investors to companies listed on those bourses. “We are thrilled to have the opportunity to play a part in this development,” he added.
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