Finance

Jack Ma’s Ant Group files for Hong Kong-Shanghai IPO

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An employee scans a quick response (QR) code displayed on the Ant Group’s Alipay app. Ant Group is preparing for a dual initial public offering in Shanghai and Hong Kong.

Bloomberg | Bloomberg | Getty Images

Ant Group, an affiliate of Alibaba, has given the first look at its financials ahead of its highly-anticipated initial public offering (IPO), in a document filed on Tuesday.

The financial technology powerhouse, which is still controlled by Alibaba founder Jack Ma, reported profit of 21.9 billion Chinese yuan ($3.2 billion) on total revenues of 72.5 billion yuan in the first half of the year, according to the exchange filing.

Ant Group, formerly known as Ant Financial, is planning a…



Source cnbc.com

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