China’s Ant Group fintech on course to smash IPO record
In a sign of shifting priorities, China’s Ant Group fintech is expected to eclipse Saudi Aramco’s record IPO with a $34.4 billion listing.
The dual listing, across Shanghai’s STAR Market and Hong Kong, would value the Chinese fintech group at about $312 billion, making it worth more than the world’s biggest bank, Industrial and Commercial Bank of China.
Ant Group IPO: a 'miracle'
Ant founder Jack Ma said such as listing taking place outside New York was a “miracle”.
Investors are said to be lining up for the listing, undeterred by regulatory scrutiny of its consumer credit business and the threat of blacklisting by the US State Department, with sources claiming institutional investment opportunities were oversubscribed within an hour of launch.
Ant has not commented on investor demand.
Shares are expected to start trading in Shanghai and Hong Kong on November 5, days after the US presidential election.
The current record for an IPO is held by Saudi Arabian Oil Co (Saudi Aramco) with a $29.4 billion listing in December 2019.
KX and Microsoft partner to scale up real-time analytics
, a data analysis software developer and vendor, it has become a Microsoft Partner. The two companies are working together to build a long-term technical and go-to-market roadmap to enable companies to rapidly scale up their real-time analytics and decision-making capabilities.
This announcement has followed the launch of KX Insights, which is a cloud-first platform for streaming analytics that fully leverages the benefits of cloud architecture natively to deliver fast, scalable real-time data insights via the .
“KX Insights takes full advantage of the Microsoft Azure platform to deliver the optimal performance while maintaining interoperability with existing processes and data,” Gerry Buggy, Chief Strategy Officer at KX.
“Together with Microsoft, we are offering a streaming analytics solution that is fast, secure, and flexible. It’s a game-changer for firms looking to drive operational and commercial performance through real-time analytics.”
KX Insights has been built to leverage vast amounts of real-time data in a scalable and easy-to-use manner. It has been benchmarked as the fastest in the industry to independent STAC benchmarks. The platform also operates on Amazon AWS and Google Cloud, plus on all public and private clouds and on-premises too where required.
Moving to the cloud
The recent found that 92% of respondents reported having a multi-cloud strategy. 82% are taking a hybrid approach, combining the use of both public and private clouds. More than half of respondents use the cloud heavily and have reached the advanced cloud maturity level. 21% of organisations are at the intermediate maturity level, and 19% are beginners.
The report showed that many of the advantages delivered by the cloud have proven to be especially valuable as organisations adapted over the past year to meet the rapidly evolving needs of businesses.