4 Ways U.S. Investors Can Get a Piece of Ant Group's IPO
Ant Group, the Alibaba (NYSE: BABA)-backed fintech company that owns the digital payments platform Alipay, will soon go public in one of the biggest IPOs in history. Ant was valued at $150 billion after its last funding round in 2018 and could hit a valuation of $200 billion in its public debut.
Ant's revenue rose 38% year-over-year to 72.5 billion yuan ($10.7 billion) in the first half of 2020. Within that total, its digital finance services revenue rose 56% to 46 billion yuan ($6.8 billion). Its net profit grew 21% year-over-year to 21.9 billion yuan ($3.2 billion).
Alipay served 711 million monthly active users (MAUs) at the end of June, and the app processed 118 trillion yuan ($17.4 trillion) in payments over the past 12 months. Its main rival, Tencent's (OTC: TCEHY) Tenpay (which includes WeChat Pay and QQ Wallet), served an estimated 940 million MAUs last year, according to an Ipsos survey.
Source Fool.com
