Ant Group, an affiliate of Alibaba, has given the first look at its financials ahead of its highly-anticipated initial public offering (IPO), in a document filed on Tuesday.
The financial technology powerhouse, which is still controlled by Alibaba founder Jack Ma, 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.
Ant Group, formerly known as Ant Financial, is planning a concurrent listing on the Shanghai stock exchange's STAR market — a Nasdaq-style tech board — and the Hong Kong stock exchange.
Source- CNBc.
