Articles by Julie Zhu

Alibaba’s Ant Group Files for Dual Listing; Could Be World’s Largest IPO Ever

Ant Group, Alibaba’s fintech arm and China’s dominant mobile payments firm, filed for a dual listing in Hong Kong and on Shanghai’s Nasdaq-style STAR Market on Tuesday and could raise as much as $30 billion in what would be the …

China Urges Local Firms to List in London with China Pacific Insurance Leading the Pack

China is urging domestic companies to look at listing in London, several sources told Reuters, as the country aims to revive deals under a Stock Connect scheme and strengthen overseas ties in the wake of the coronavirus crisis. The Shanghai-London …

Ping An’s Technology Unit OneConnect Reduces Offering in U.S. IPO

Ping An Insurance’s OneConnect Financial Technology launched a U.S. initial public offering (IPO) of up to $504 million on Tuesday, reducing both its target offering size and valuation. The unit of China’s biggest insurer by market value, Ping An Insurance …

Alibaba Plans $20B Listing in Hong Kong to Boost Technology Investments: Sources

Alibaba is considering raising as much as $20 billion through a listing in Hong Kong, people familiar with the matter told Reuters, lining up a second blockbuster deal following its 2014 record $25 billion float in New York. The deal, …

China’s Anbang to Sell Overseas Properties Worth $10B in Ongoing Rescue: Sources

China’s Anbang Insurance Group Co. Ltd. is looking to offload overseas properties worth about $10 billion to shore up its balance sheet as part of a government-backed rescue, three people with knowledge of the matter said. The sales are likely …

China’s Baidu Selling Majority Stake in Fintechs; May Enter Insurance

China’s Baidu Inc. said it will sell a majority stake in its financial services business for about $1.9 billion to a consortium led by TPG Capital Management LP and Carlyle Group LP, as it looks to deepen its push into …

Explaining Ant Financial’s $150B Valuation – and Investor Enthusiasm for China Tech

Ant Financial’s rapid climb to become the world’s biggest super unicorn valued by some investors at around $150 billion showcases investor enthusiasm for the biggest Chinese tech companies and also how quickly valuations can shift. Just two months ago, bankers …

China’s Ant Financial Targets at Least $8B in Investor Funding: Sources

China’s Ant Financial Services Group is in talks with investors to boost its fundraising target to at least $8 billion, which could see its valuation jumping to about $150 billion, people with knowledge of the plan said. Singapore state investor …

China’s 2nd Largest E-Commerce Firm, JD.com, Seeks to Expand in Insurance, Banking

JD.com Inc’s finance arm is looking to raise about 12 billion yuan ($1.9 billion) in fresh equity that could see its value double from last year to more than $20 billion, three people with knowledge of the matter said. The …

China’s Fosun to Continue ‘Genuine’ Overseas M&A

Fosun International, one of China’s most acquisitive conglomerates, brushed off the impact of a crackdown on overseas dealmaking and said it welcomed Beijing’s guidelines on offshore investment, as it posted a record jump in first-half profits. After several years of …