Business
Why Ant Group towers over Afterpay – The Australian Financial Review
The prospectus for the owner of Chinese payments giant Alipay shows just how small Australia’s new breed of payments plays really are.
Amid the handwringing about the city’s future in the wake of Beijing’s controversial introduction of a national security law, Ant Group will join other Chinese tech giants including one-third owner Alibaba, JD.com and Netease that have made their home on the Hong Kong stock exchange, through secondary listings, over the past year.
The massive IPO should also be a nail in the coffin for those cheerleaders who have talked up Australia usurping Hong Kong as a regional finance hub.
It. Is. Never. …
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