Ant Financial may ahead of Baidu, etc. listed in Hong Kong

On January 11th, a number of U.S.-listed companies, including Ctrip, Baidu and NetEase, were among those who announced plans to list in Hong Kong, driven by Alibaba’s second hong Kong listing and a surge in the company’s share price. But people close to Hong Kong stocks say Ant Financial may be the first to list in Hong Kong than Baidu.

Ant Financial or ahead of Baidu, etc. listed in Hong Kong

Just last month, it was reported that Ant Financial plans were listed in both the mainland and Hong Kong in the near future, although Ant Financial responded at the time by dismissing market rumours.

On November 26 last year, Alibaba was officially listed on the Hong Kong Stock Exchange at HK$176, raising HK$88bn and opening at HK$187 on the first day of trading.

Alibaba’s successful performance in Hong Kong has attracted a wave of Chinese-stock companies. Recent lying in the market is that Ctrip, NetEase, Baidu and other Chinese technology companies listed in the United States and the Hong Kong Stock Exchange on the possibility of a second listing in Hong Kong.

Meanwhile, with Alibaba’s Hong Kong listing, the schedule for its Hong Kong listing of Ant Financial is being interpreted as accelerating.

In September 2019, Alibaba acquired a 33 percent stake in Ant Financial for 87.5 billion yuan, according to alibaba’s prospectus to the Hong Kong Stock Exchange. Then, on December 19th Ant Financial announced a new personnel shake-up: President Hu Xiaoming became CEO and Jing Xiandong continued to serve as chairman of Ant Financial.

Whether it’s a clear relationship with Alibaba or a personnel shake-up, these moves have been interpreted as paving the way for Ant Financial to pave the way for an upcoming IPO.