MNI BRIEF: China Visitor Mobile Payments Surge in H1

MNI China Daily Summary: Friday, July 26

MNI BRIEF: Foreign Firms Content In China

MNI BRIEF: Turkish Inflation Expectations Steady- TEBA

MNI China Press Digest July 26: Deposit Rates, Fiscal, PBOC

MNI: PBOC Net Injects CNY299.05 Bln via OMO Fri

MNI: BAKER HUGHES US RIG COUNT 589; OIL RIGS 482; GAS RIGS 101

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT FINAL JUL INDEX 66.4

EZ/UK Bond Supply Calendar: BoE Short APF Operation on Monday

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Wires Report That China's Ant Group Have Filed A Prospectus For IPO

HONG KONG

Recall that in early July Reuters reported that Alibaba's fintech arm Ant Financial are planning a Hong Kong float as soon as 2020, targeting a $200bln valuation.

  • That could be an IPO of considerable size for HK - and such floats often have outsized impacts on HKD via interbank rates. On several occasions in 2019, HIBOR rose sharply as markets anticipated cash demand in Hong Kong ahead of the IPOs for both AB InBev (circa $5bln in September) and Alibaba (circa $15bln in November).
  • As such, it's likely a sizeable IPO from Ant Financial in Hong Kong would have a similar impact and apply upward pressure to front-end HIBOR rates, thereby tightening liquidity, strengthening the HKD and blowing out HKD forward rates.
  • This isn't the first time we've heard of an Ant Financial IPO in HK - was floated earlier this year in January.
BulletMarketsFixed Income BulletsForeign Exchange Bullets

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.