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Ant Group Cites U.S. Risks in Filing for Hong Kong, Shanghai IPO

  • Ant to issue at least 10% in new shares of total capital
  • Ant’s Alipay service processed $17 trillion in transactions
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Jack Ma’s Ant Group Files for Mega IPO in H.K., Shanghai
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Billionaire Jack Ma’s Ant Group warned that rising U.S.-China trade tensions threaten its business as it gears up for an initial public offering that could give it a valuation as big as Bank of America Corp.

The Chinese e-commerce and fintech giant highlighted the geopolitical tensions in its filings for a dual IPO in Hong Kong and Shanghai late Tuesday, citing possible U.S. export controls and trade sanctions as key expansion risks.