The AliPay IPO

Jack Ma is at it again. The founder of Alibaba ($BABA), one of the largest online wholesalers that comes out of China. Ma has lead this business to a status of billions of dollars. Now he is branching the business and is ready to have another project go public known as AliPay. The parent company of Alipay is Ant Group, and its function is to help user make payments, save money, invest, and even buy insurance all in one place on a mobile phone. There are about 80 million monthly users on AliPay and they account for $17 trillion dollars transferred on the platform every year. Shares of the Ant Group will begin trading on the Hong Kong exchanges on November 5th at around $10.25, becoming reportedly the biggest IPO ever, with an estimated value of $313 billion! There will be buzz, especially for a successful digital platform run by one of the world’s greatest business leaders. As the IPO is released around the world in the coming days, be on the lookout.

-Darnel Shillingford

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