New York: Friday, October 23, 2020
© 2020 U-S-NEWS.COM
Online Readers: 70
If you are tired of liberals skewing the mainstream news, you've come to the right place
FILE PHOTO: Alipay logo is pictured at the Shanghai office of Alipay, owned by Ant Group which is an affiliate of Chinese e-commerce giant Alibaba, in Shanghai

Analysis: Ant Group’s $35 billion IPO not likely to be injured by possible U.S. curbs

SUBMIT PICTURE: Alipay logo design is visualized at the Shanghai workplace of Alipay, owned by Ant Group which is an affiliate of Chinese e-commerce giant Alibaba, in Shanghai, China September 14, 2020. REUTERS/Aly Song/File Image

October 11, 2020

(This Oct. 8 story remedies paragraph 2 to state Trump administration authorities, not Trump, are thinking about the relocation)

By Scott Murdoch and Julie Zhu

HONG KONG (Reuters) – Ant Group’s $35 billion going public (IPO) is not likely to struggle with any U.S. limitations on the Chinese monetary innovation giant due to its extremely restricted abroad existence, prospective financiers and experts stated.

Trump administration authorities are thinking about curbs on Ant, an affiliate of Chinese e-commerce company Alibaba <BABA.N>, and Tencent <0700.HK> over issues their payment platforms threaten nationwide security, Bloomberg News reported on Wednesday.

If carried out, the limitations would highlight how Trump’s administration is looking for to avoid Chinese business from embedding themselves in the U.S. monetary system prior to they end up being a considerable competitive risk.

Ant stated it was not familiar with any conversations within the administration about limitations. Tencent and the White Home did not right away react to ask for remark.

Ant is working towards a dual-listing in Shanghai and Hong Kong potentially as quickly as this month in what sources have actually stated might be the world’s biggest IPO, exceeding oil huge Saudi Aramco’s <2222.SE> $29.4 billion float in December.

Ant’s Alipay and Tencent’s WeChat payment platforms are utilized mostly by Chinese people with accounts in renminbi. The majority of their U.S. interactions are with merchants accepting payments from Chinese tourists and services in the nation.

“Basically the overseas revenue accounts for maybe 5% or less for Ant Group. That means for the U.S. revenue contribution it would be even less than that,” stated Morningstar senior equity expert Chelsey Tam.

“I’m sure investors will ask about it during the roadshow but it’s quite easy for investors to understand that if Alipay and Wechat Pay go overseas the U.S. is probably not the top priority,” Tam stated.

Ant, that makes 95% of its profits in China, is looking for to raise about $35 billion in an IPO after evaluating early financier interest and based upon an evaluation of about $250 billion or more, Reuters has actually reported.

The United States has actually progressively inspected app designers over the individual information they manage, specifically if a few of it includes U.S. military or intelligence workers.

In 2018, the federal government’s Committee on Foreign Financial Investment in the United States (CFIUS) required Ant to ditch strategies to purchase https://www.reuters.com/article/us-moneygram-intl-m-a-ant-financial-idUSKBN1ER1R7 MoneyGram International Inc <MGI.O> over issues about the security of information that might determine U.S. people.

It was among the very first high profile US-China offers to be obstructed under the Trump administration.

An authorities at a state-backed Chinese fund, a possible financier in an Ant IPO, stated he was not stressed over the prepared U.S. limitations as the marketplace just represented a small part of the business’s total company.

The main decreased to be called as he was not authorised to speak with the media.

“The ban is more about stopping Ant from expanding in the U.S. in the future, but that shouldn’t have an immediate impact on the valuation as there is lot more growth left for Ant in China,” stated LightStream Research study expert Supun Walpola, who releases on the Smartkarma platform.

(Reporting by Scott Murdoch and Julie Zhu; Extra reporting by Kane Wu; Composing by Sumeet Chatterjee; Modifying by David Clarke and Patrick Graham)

Read Original – Click Here

Hmm. yes i understand the
question, you know it's been at least
15 years since I've been following the news, no 10 my folks do that, hmm. what was the question again !?
Excuse me! But can you remember
where you read about this ?
Are you kidding !?
of course I can, it was on
the website u.s.news.com
(Visited 11 times, 1 visits today)

Leave a reply

Your email address will not be published. Required fields are marked *


If you are tired of liberals skewing the mainstream news, you are not alone

We tell the truth as opposed to the pathetic fake-news lamestream media


Community Network
Tired of liberals skewing the mainstream news - Join today




Community Network
Tired of liberals skewing the mainstream news. We have taken notice of the increasingly shrill left wing echo chamber in the press, and we are starting to get fed up with the so-called “News Headlines" that simply parrot Democratic Party talking points. Here you get the opportunity to change this and come up with your own opinion! Comment on our news articles - Share your opinion in the news groups - Follow and write to other users. Write your own News Articles and get it online.
Easy login with facebook, google or manual - Join and start today
You have now reached the bottom, exactly like
I'm down here


We're not around right now. But you can send us an email and we'll get back to you, asap.


Log in with your credentials


Forgot your details?

Create Account