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How much of ANT will Singapore Inc own?

Ant, the fintech controlled by Alibaba’s billionaire founder Jack Ma, will sell shares in a dual listing in Shanghai and HK. The sale, roughly 3.34bn shares, which account for 11% of Ant’s total outstanding stock, will fetch US$34.4bn.

The Shanghai portion is worth Rmb114.9bn (US$17.2bn) or about half the total. GIC is subscribing for Rmb2bn worth of shares (1.7%) and Temasek wants for Rmb1.5bn (1.3%) in Shanghai portion. Institutional buyers in the onshore deal agreed to hold half of their shares for 12 months, and the other half for 24 months.

Assuming that GIC and Temasek don’t buy any shares in the HK offering, GIC and Temasek will collectively own 1.5% of the public offering. Remember that the HK and Shanghai tranches are roughly the same.

In the overall context of Jack’s and Alibaba’s holdings, the amount bis “peanuts”.

 

Cynical Investor

Cynical Investor blogs at Thoughts of a Cynical Investor
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17 Responses to “How much of ANT will Singapore Inc own?”

  • Did you know that practically all users who use Jack’s Alipay (支付宝) owe Ant Finance money, including me?

    Conservatively, we are talking about billions of debtors!

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  • Harder Truths:

    When the stock is doing good we will not see a cent of it. When the stock collapses one fine day we all have to pay for it.

    This is the same with all the other stocks, bonds, CD’s and other financial instruments TH and GIC are invested in. So we are liable for 100% of paying back whatever HC & Co. have mismanaged. Never mind the $10 million HC runs off with yearly.

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  • WAYANG WAYANG pap:

    Hahaha,

    GIC and TEmasek ” WILL SINK SG !!!!

    once Trump has separated the two economy, ANT will be history.

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  • oxygen:

    @ TRE Techie

    YOUR COMMENT BELOW REMINDS me poignantly of the former industrial juggernaut – GE in USA.

    GE reported fat earnings every year -especially in the days when GE Appliances manufacturing/dominating domestic white goods market financed out of consumers’ borrowing from another GE entity called GE Capital.

    When the GFC came, GE is stuck with SKY HIGH DEBT and losses in GE Capital which is ultimately GE itself.

    In layman terms – it is OWNSELF-BLUFF-OWNSELF profits reporting.

    A lot of tech stocks in US are like this -running huge losses pretending big POTENTIAL for earnings forward (some never came to fruition of even one cent) and stratospheric share price valuation.

    WHEN INSIDER STARTS SELLING OUT – I did run for the hills looking for sheltered caves.

    TRE Techie: Did you know that practically all users who use Jack’s Alipay (支付宝) owe Ant Finance money, including me?

    Conservatively, we are talking about billions of debtors!

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  • oxygen:

    @ TRE Techie

    RIGHT OR WRONG, I have learnt this habit of checking “WHO” is on the top 20 shareholders’ list in entities whose share I am thinking of investing in. It is in the entity’s Annual Report if the shares are listed Down Under.

    If a certain “ILLUMINATING” name or names is/are on that list – it will determine my decision to buy or not.

    Performing investors usually “perform” on most of their investments.

    “LOSERS” also rarely fails of their “colourful achievements” too.

    BOTH CLASSES OF INVESTORS DO THEIR DUE DILIGENCE, of course but the “losers” are consistent of their “failing” achievements in investment research. That is WHY THEY GET’BOMBED’out each and nearly every try. THEY ARE PREDICTABLE, LOL.

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  • Kindly elaborate ?:

    @ techie

    No i dont. Kindly elaborate .

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  • overvalued?:

    ANT overvalued ?
    Crazy World….

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  • GIC:

    GIC got shares in the Company ?Make money for Singapore.
    Why subscribe now ? Is ANT overvalued ?

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  • xoxo:

    @TRE techie

    DONT WORRY one,TH N GIC will ‘BAIL THEM OUT’ like how they did to too fail to fail americna bankster$???

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  • xoxo:

    chinamen added $1.5 TRILLION during last 10/11 months while KING CORONA attacks millions of people?

    THE RICH N POWERFOOL$ seem to be beneficiarie$ of KING CORONA?
    Guess THEY WORSHIP ‘IT’?

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  • As far as I know, Ant Finance is owned by Jack and a group of very close friends and family members (relatives). Its core business is lending of money to users of Alipay (another business where Jack is the major sharehgolder).

    We all know Jack started Alibaba group with the help from Yahoo’s founder, giving birth to his brainchild TaoBao, an online e-commerce platform.

    However, all transactions through TaoBao HAD TO go through Alipay, which Jack started WITHOUT the involvement of Alibaba (there was reportedly a huge fiasco with Softbank (main shareholder of Alibaba Group) but that’s another story).

    Since I am also a user of Alipay, this is what a user will go through when you open an account with Alipay (without which you cannot use TaoBao).

    Upon opening an account (online only) with Alipay and being verified (upload IC, Passport, link bank account, etc – provided user not a judgment debtor), you are automatically granted a credit limit of RMB 2k which you can choose to draw on or not. If you do not wish to use the credit line, all transactions will be deducted from your bank account.

    If you use the credit line (花呗), you can buy today pay next month WITHOUT INTEREST (in full). If you cannot pay next month the full sum, you can pay minimum 10% (+some interest), much like a credit card.

    With the credit line, comes a lot of perks and wayangs, like if you use their credit line (then accumulate ANT credit points), you get free fuel coupons, free insurance, free o-bike rental, no need deposit for phone charger, no need deposit for car rental, etc etc etc.

    Many users, including me, will surely want to have some of the perks (like accident insurance and fuel coupons), so we started off using the credit line and the best part is, when you pay promptly for the initial year, they increase double to triple your credit line every quarterly or so. So say if you have been using it for more than 3 years with prompt payment and have accumulated an ANT credit rating of more than 750 points, you get a credit line of about 50k or maybe even more. They even extend a credit line of up to 6 digits to shop owners on TaoBao!

    With the Alipay account, you can use it to buy almost anything (yes, even a car) as long as the dealer accepts Alipay, which practically all businesses and govt agencies in China does accept. You can pay fines, book an airline ticket, etc etc etc. It is so convenient, Users use it to breeze through paid parking without even having to stop the car at the payment booth at all.

    So as a human being and given what I have said above, how many, if any, you tell me won’t use Alipay or its credit line?

    As an added bonus, on top of that credit line for purchase, they mirror the credit line into a revolving credit line (借呗) and allow the user to literally draw cash from Alipay account.

    Say if I have a credit line of 50k, tonight I go cheong Karaoke and decides to show off a bit with a bottle of Chivas or bonk a meis meis costing RMB 2k, I only have 1k in my bank account, no worry cause I can use the credit line immediately.

    Say come CNY and I need cash for Ang Bao, I can always draw instant cash from the Alipay account into my bank account. I can use the 50k credit line every day and accumulate the “loans” forever, just make minimum payment on the accumulated amount can liao.

    Anyway, to cut it short, whenever you buy something on Taobao and pay with Alipay, Alipay makes a profit from the seller only. BUT when a user draws on any of the credit lines (be it for purchase or cash loans), you go through Alipay to draw on the credit line provided by Ant Finance.

    Nobody uses credit cards and bank cards in China anymore and with even government agencies accepting Alipay (the other is WeChat owned by Pony Ma) as an official payment platform, it is not hard to imagine how many billions of clients Ant Finance has.

    Best part is, Ant Finance has no walk-in office and it literally does not know meet or know any of its clients at all!

    So possibly it may be the largest lender in China in terms of client base.

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  • @xoxo

    The shareholders of ANT Finance is filty loaded and all multi-billionaires, they surely don’t need the petty cash from temasick to bail them out, especially when ANT is making tons of money from the interest from billions of clients.

    Besides, ANT is easilly worth US$400 billions, about the size of temaasick’s portfolio, so temasick is “peanuts” to ANT?

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  • xoxo:

    @TRE Techie
    Just trying to be sarcastic…
    Thanks for info,bro.

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  • Tracey Ching:

    Wow! Lot of China commie propaganda. All roads in China will invariably lead to the CCP. It is not humanly possible to be a successful multi millionaire or a billionaire without CCP connections known as guang Xi. Portion of their wealth are held in trust for the CCP and individual high ranking CCP officials. Guys go and follow the footsteps of Dickson Yeo. A Singaporean convicted in the US and he pleaded guilty to spying charges for CCP CHINA.

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  • @xoxo

    No issue there. I was merely sharing what I know and experienced.

    Jack is one smart businessman, he managed to get billions of Chinese to “feed” him without even a single storefront.

    This business model how to fail?

    With his wealth, I would be busy enjoying life and relaxing on some beach but he still wants to go into small petty cash biz like Starbucks, Kentucky, Lazadas, etc.

    I wonder if he is trying to overtake Bill Gates or Pony Ma (owner of WeChat, who is reportedly worth more than RMB 5000b)?

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  • Tracey Ching:

    Jack Ma is a CCP member and comrade!

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  • @Tracey Ching

    I do not dispute what you have suggested about billionaires in China. However, as a matter of fact, both Jack and Pony Ma is really not on so good terms with the CCP or else they would not have “retired”.

    Anyway, even if what you opined is true, my question to you is:

    How is that any different from the current system in Sinkieland? A case of pot and kettle?

    If I am forced to make a comparison, I would opine that the LEEders in Sinkieland are currently practising what the Chinese officials had been doing decades before President Xi came to power.

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