What happened: Jack Ma’s Ant Group Ant Group intends to file for dual listings in Hong Kong and Shanghai targeting a valuation of about $225 billion, a Bloomberg report said.Ant Group is Alibaba Group Holding Ltd – ADR’s (NYSE: BABA) fintech arm and one of China’s dominant mobile payments company and it intends to pull off one of the largest IPOs in recent history.Why It’s Important: Ant Group is said to be one of the prized assets for the Alibaba founder. It reportedly made $1.3 billion in profit in the March quarter. The group has a huge subscriber base as …read more
Source:: Yahoo Finance
