Eric Jing, CEO of Ant Financial
Bobby Yip | Reuters
Chinese fintech firm Ant Financial has begun the process of a concurrent initial public offering in Shanghai and Hong Kong.
Ant, an affiliate of e-commerce giant Alibaba, said Monday that it would list its shares on both the Shanghai stock exchange’s STAR — a Nasdaq-style tech board — and the Hong Kong stock exchange. The dual listing will help Ant “accelerate its goal of digitizing the service industry in China,” the company said.
“Becoming a public company will enhance transparency to our stakeholders, including customers, business partners, employees, shareholders and regulators,” Ant CEO Eric Jing said in a statement. “Through our…