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Ant Group files for HK-Shanghai IPO; first-half profit rises 1,000%

Ant's Alipay service processed $17 trillion in transactions

Topics
Alipay | Jack Ma | Alibaba

Agencies 



alipay, wechat, digital payments, china
The financial technology powerhouse 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

Billionaire Jack Ma’s Ant Group filed for an initial public offering in Hong Kong and Shanghai to bankroll its expansion in financial services and bolster its lead as China’s large­st online payments platform.

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First Published: Wed, August 26 2020. 02:20 IST

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