Jack Ma’s Ant plans big IPO in China

The Ant Group – controlled by Chinese legend Jack Ma is planning an IPO on the Hong Kong Stock Exchange and the Shanghai Stock Exchange’s Nasdaq-style Star Market.

Ant uses the Alipay wallet across Alibaba’s e-commerce networks, to digitize China’s service industry, such as getting rural shops to use its payments service.Chinese tech firms are using HKSE and Star Market to access funding.

The Star exchange was unveiled by President Xi Jinping last year.

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