Alibaba Group Holding Ltd.’s (NYSE:BABA) Ant Group Plans IPO in Hong Kong, Alibaba Cloud Expanding


Alibaba Group Holding Ltd’s (NYSE:BABA) fintech arm, Ant Group, plans a HONG Kong IPO this year, valuing of $200 billion.

Alibaba to float Ant Group shares in a Hong Kong IPO

The tech unicorn is considering offering the shares in Mainland China and Hong Kong simultaneously. However, it now seems that the company is leaning towards Hong Kong because it will face an effortless listing process according to familiar sources. The company seeks to offer between 5% and 10% of its stock in the IPO and will be one of the biggest listings globally in 2020.

According to sources, the company planned to float the stock in recent months, but details are yet to be completed. Ant Group stated that the information regarding the floating of stock was incorrect, and its parent company has also not commented on the same. Alibaba Group owns 33% of the Hangzhou based Ant Group, whose value hit $200 billion last year due to small trades in secondary markets.

Alibaba Cloud partners with Equinix to expand cloud

Alibaba Cloud has partnered with Equinix to expand access to the cloud in another 17 regions. It will expand it through its interconnection platform as the biggest infrastructure-as-a-service provider in the Asia Pacific. With the partnership, Equinix will bring access to markets like Hong King, Dubai, Frankfurt, Singapore, London, Sydney, Singapore, Tokyo, Dallas, Denver, and Chicago. Alibaba Cloud has partnered with Equinix since 2017.

Equinix offers remote interconnection access to the data center through Equinix Cloud Exchange Fabric, and Platform Equinix to businesses that want to tap low latency public cloud. There has been a strong demand for Equinix services as businesses change their infrastructure to multi-cloud and hybrid.

In the last quarter, Alibaba Cloud witnessed 58% growth and has been offering cloud services to enterprises across China and the Asia Pacific. Interestingly the partnership with Equinix will help the company reach over 9,700 customers that include IT service providers, network and cloud operators, and enterprises.

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