Big Firms

Ant Group’s IPO: The Era of the Supervision Initiative of Payment Institutions

On the evening of August 7th , the People’s Bank of China (PBOC) released the Draft Management Measures for Major Matters report of Non-bank payment institutions (HEREINAFTER referred to the Measures), aiming to strengthen the supervision initiative of payment institutions and improve their ability of risk screening, early warning and disposal.Among the two giants in the payment industry, alipay’s parent company–Ant Group announced on July 20th that it would seek to list its shares simultaneously on the science innovation board of the Shanghai stock exchange and the main board of the Hong Kong stock exchange, while WeChat payment (tenpay) is in the system of its parent Tencent holdings (0700.hk).This also means that ant group’s IPO will still need to be reported to the central bank in advance if the measures are completed and implemented.

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Jack Chan

Editor in chief of FirmKnow News.
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