Thesis Summary
Ant Financial, previously known as Alipay is a company that engages in the fintech sector in China. The company's largest shareholder, with 33% ownership, can be traced back to Alibaba Group Holdings (BABA). The two companies are essentially strategic partners, with Ant Financial leveraging BABA's Aliexpress platform. Recently, Bloomberg announced the news that Ant Financial would be going public in Shanghai and Hong Kong, offering around a 10% stake in the company.
The IPO could potentially be one of the biggest in years, and with the newly available financial information, this