That one company is Jack Ma’s Ant Group. That listing is a simultaneous one in both Hong Kong and Shanghai. That estimated valuation is US$225 billion! (RM937 billion). If we want to have a sense of comparison, Toyota as a company has a valuation of around US$200 billion. (click here to read)
This seemingly unbelievable listing was reported in business-standard.com According to the report, this listing will make Ant Chairman Eric Jing and another 17 current and former Alibaba and Ant executives into the rank of billionaires. As for Jack Ma, he currently holds 50.52% voting rights in Ant but he said he intends to reduce his economic interest in Ant to a maximum of 8.8% and he is DONATING 611 million shares to charity.
Ant also operates services that dole out small unsecured loans: Huabei (Just Spend) and Jiebei (Just Lend). Huabei focuses on quick consumer loans for purchases of iPhones and fridges, while the Jiebei finances anything from travel to education. Ant made loans to about 500 million people in 12 months through June. It is now applying for a license to set up a consumer finance company. This will allow Ant to lend 10 times of their capital and this is far higher than the current 2-3 times of Ant’s existing micro-loan companies. Please do read the full and comprehensive article here: business-standard.com
For all the employees of Ant group who has worked hard for this day, congratulations. Happy spending the money yeah. For the charities which will get the free shares from Jack Ma, please do your very best for the community yeah. Anyway, I did not find anywhere stating the date of the listing. Probably needed to wait for an auspicious date in the near future. ‘Vaccine’ may just be the keyword every company going for listing will also be looking forward to hearing as well.
This is s a great news for Asia I think if all these new millionaires (employees) and billionaire executives spend their money here as well. I just want to reiterate again that this decade or even next decade, it’s definitely ASIA’s time to shine. Whether it’s the second largest economy or even that super potential India and within ASEAN, our very own big brother, Indonesia. This is the time for integration and economic growth in-tandem for all. By the way, the European Union (the EU) started in 1993 and even if it has its weaknesses, it has helped the EU with the same voice when they are negotiating with the world. Let’s just see how close we could become yeah. Happy anticipating.
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