Ant Group’s decision to skip New York not a matter of why … but why Shanghai?

Domestic investors are supporting local technology companies, allowing tech giants like Ant Group to select Hong Kong and Shanghai for its IPO.

With a stock valuation ranging between $150 billion to $200 billion, Ant Group, the online payment service provider behind Alipay, is expected to be among the largest deals for 2020. But the mobile payment platform is also grabbing attention by choosing to dual list in Shanghai and Hong Kong, preferring to go public back home and skip New York.  

¬ Haymarket Media Limited. All rights reserved.

Sign in to read on!

Registered users get 2 free articles in 30 days.

Subscribers have full unlimited access to FinanceAsia.

Not signed up? New users get 2 free articles per month, plus a 7-day unlimited free trial.

Questions?
See here for more information on licences and prices, or contact [email protected].

Share our publication on social media
Share our publication on social media