On August 25, China-based finance platform Ant Group filed for what would be one of the biggest IPOs in history.
Ant Group, which is the parent company of Alipay, filed for a dual listing in both Hong Kong and on Shanghai’s STAR Market. The company is the leading digital payments provider and digital finance platform in China. The company’s mobile app, Alipay, reaches over 1 billion users and 80 million merchants. The company also provides services globally, but is most popular in China.
Shanghai’s STAR Market, which is officially named the Shanghai Stock Exchange Science and Technology Innovation Board, is Asia’s most valuable stock market and predominantly features tech startups. It is China’s equivalent to the U.S. NASDAQ.
A Record Breaking IPO
According to sources cl…