Ant(icipating) a listing
With Ant Group, an associate company within the Alibaba stable, planning an IPO in Shanghai and Hong Kong the financial services company is opening up disclosure. At a targeted market value of $200bn, Tencent will have a stand-alone competitor. Tencent’s WeChat Pay is a smaller but considerable competitor say Ingham Analytics in “Ant(icipating) a listing”, an event that won’t be lost on Prosus and Naspers. The rand share price of both Naspers and Prosus on the JSE is flattered year-to-date by rand weakness and both have underperformed relative to Tencent, but is it time to buy or stay away?
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