Ant Financial launched the "Spring Rain Plan" to invest RMB1 billion in supporting at least 1 million developers and serving 10 million merchants in three years. We want to hear from you.The investment research firm added that based on a $150 billion market capitalization, Ant represents $19 of Alibaba's American depositary shares (ADS).While Ant Group may not be that well known outside of China, its valuation could top that of some of Wall Street's biggest banks, according to one analyst who spoke to CNBC on Tuesday.Get this delivered to your inbox, and more info about our products and services.Yahoo, another major shareholder SoftBank and Alibaba eventually came to a deal that same year: Alibaba would be paid at least $2 billion but no more than $6 billion if Alipay went public. Then in 2018, Alibaba bought a 33% stake in Ant Financial . Global Business and Financial News, Stock Quotes, and Market Data and Analysis.These digital financial services contributed more than 50% of Ant Group's overall revenues for the fiscal year ended March 31.Ant Group will carry out a concurrent initial public offering (IPO) on the Shanghai Stock Exchange's STAR board and the Hong Kong stock exchange. Alibaba's U.S.-listed shares closed at $254.81 on Monday. We aim to serve 2 billion consumers in the next 10 years: Ant Financial East Tech West It is the world's largest so-called "unicorn" company, with a reported valuation of $150 billion. "Through our commitment to serving the under-served, we make it possible for the whole of society to share our growth."Got a confidential news tip? Global Business and Financial News, Stock Quotes, and Market Data and Analysis. Shareholding Structure of Ant Financial Group 1：Includes cross grants to Alibaba Group 2：Right to a 33% equity stake subject to regulatory approval 3：Ownership percentage if Alibaba Group converts to a 33% equity stake Domestic China Investors 76.4% 23.6% As of May 31, 2016 33%(2) Alibaba Partnership Management & Employees(1) 51.2%(3) 15.8%(3) But Ant Group has been expanding its reach into everything from wealth management to micro-loans. The STAR board is China's push to create a domestic equivalent of the Nasdaq in the U.S."(The) earnings power of the company has improved after we wrote that report … so I would expect that valuation to go up from that last round of assessment that we did at the end of last year," Dai told CNBC's "Street Signs" on Tuesday."We consider the potential listing of Ant can further unlock its value as a public company," Jefferies said in a note.Recently, Ant Financial rebranded as Ant Group.But its valuation could now be as high as $210 billion, according to David Dai, a senior analyst at Bernstein, who carried out his own calculation at the end of last year.The company is known for running Alipay, one of China's most popular mobile payment systems.
Hangzhou Alibaba is the largest shareholder of Ant Group, with a 33% shareholding. Alibaba has brought in a roster of state financial institutions as investors in Ant Financial. Ant Financial was created in 2014 to encompass not just Alipay, but Alibaba's bigger push into financial technology.
That triggered a huge battle with Yahoo, then a major shareholder in Alibaba. Furthermore, unlike the owners of sole proprietorships or partnerships, corporate shareholders are not personally liable for the company's debts and other financial obligations. Yahoo, which was Alibaba's biggest shareholder at the time, said that transaction happened without its knowledge, something the Chinese e-commerce giant denied at the time.Ant Financial was created in 2014 to encompass not just Alipay, but Alibaba's bigger push into financial technology. Dai said his current price target on the stock is $290 which could be hit by the end of this year or beginning of 2021.Ant Group has over 900 million users in China for Alipay.
Therefore, if … But it offers financial products beyond that, including wealth management, loans to businesses and insurance.But, so far, there are no details on pricing of shares.Got a confidential news tip? Alipay was also required to pay licensing fees and continue serving Taobao, one of Alibaba's e-commerce platforms.Sign up for free newsletters and get more CNBC delivered to your inboxMeanwhile, Bernstein's Dai said Ant Group will be "highly accretive to current share price of Alibaba."A valuation of over $200 billion would make Ant larger than some of America's biggest banks including Goldman Sachs and Wells Fargo.Data is a real-time snapshot *Data is delayed at least 15 minutes. Get this delivered to your inbox, and more info about our products and services."Becoming a public company will enhance transparency to our stakeholders, including customers, business partners, employees, shareholders and regulators," Ant CEO Eric Jing said in a statement. Ant Financial Services Group provides online payment platform. Ant Financial announced that, in partnership with CFPA Microfinance, it will promote the "Targeted Poverty Alleviation" program, which will cover 300 poverty-stricken counties. We want to hear from you.Chinese fintech firm Ant Group has begun the process of a concurrent initial public offering in Shanghai and Hong Kong.Sign up for free newsletters and get more CNBC delivered to your inboxData is a real-time snapshot *Data is delayed at least 15 minutes.