The world’s payment juggernaut, Ant Group, is hoping to raise $34.5 billion in its dual initial public offering (IPO) after setting the price for its shares today, making it the biggest listing of all in modern history, in a report credited to CNBC news.

The Chinese financial powerhouse had earlier disclosed previously that it would divide its stock issuance equally across Chinese major stock exchanges, which include Shanghai and Hong Kong, issuing 1.67 billion new shares at each of those exchanges.

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Ant Group’s Shanghai-listed shares will be quoted at 68.8 yuan each. The issuing of 1.67 billion shares would raise 114.94 billion yuan or $17.23 billion.

• The Hong Kong-listed shares have been priced at 80 Hong Kong dollars each, raising 133.65 billion Hong Kong dollars or $17.24 billion.
• The listing would produce a return of at least $34.5 billion, as the figure could go higher if the so-called over-allotment option is exercised, depending on demand.
• It would make it the largest initial public offer of recent memory, putting it ahead of previous record-holder Saudi Aramco, which raised about $29 billion.

READ: MTN may rake in $600 million from Jumia’s planned listing

READ: Jack Ma’s fintech firm is set for IPO, signalling prospects for Nigerian fintechs

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What you should know

Ant Group, formerly known as Ant Financial and Alipay, is an affiliate company of the popularly known e-commerce company Alibaba.

• Ant Group remains the world’s most valuable FinTech company, and most valuable unicorn company, with a target valuation of over US$280 billion.
• The group owns China’s largest digital payment platform, Alipay, which serves over one billion users and 80 million merchants, with total payment volume (TPV) transaction reaching RMB118 trillion in June 2020.

Explore Data on the Nairametrics Research Website

Five Nigerian firms have been shortlisted among the 12 African startups to pitch live at this month’s digital Africa Tech Summit Connects in Kigali, Rwanda.

This is to showcase their solutions to the global audience of 500 investors, corporates, and other stakeholders.

Disrupt Africa and Africa Tech Summit (ATS) disclosed it had reviewed its partnership to integrate startup-focused sessions plenary and pitching chances in its virtual Africa Tech Summit Connects event scheduled to hold virtually on the 20th – 22nd of October 2020.

What you need to know

ATS is a fully-virtual event and not a webinar. The event would maximize their time with AI-powered smart matchmaking and give startups opportunities in the online business community.

Why this matters

The three days course will enable them to engage with parties through a variety of online mediums. It would encourage the exhibition of recent developments in the continent across the start-up world, and it would focus on fintech, logistics, ed-tech, agri-tech, e-commerce, investment, regulation and policy, blockchain, connectivity.

With over 50 African tech start-up applicants seeking to raise either pre-seed, seed, or Series A funding; 5 out of the 12 selected to participate and present their solutions to the audience, and also connect virtually with those interested are Nigerian start-ups. The selected start-up companies are;

• Medsaf (Nigeria),
• Seso Global (Nigeria),
• Wella Health (Nigeria),
• Vybe (Nigeria),
• Scrapays (Nigeria),
• Agro Innova (Ghana),
• PayDunya (Senegal),
• Snode (South Africa),
• Moja Ride (Ivory Coast),
• Eneza Telecom (Kenya),
• Kolute Systems (Senegal),
• Abiria (Kenya).

Popular hacking group, Anonymous has claimed via its Twitter handle, that it had breached some Nigerian government websites.

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The act is said to be in support of the ongoing #EndSARS protest that has taken over many cities in Nigeria, following calls for the disbandment of notorious police unit, the Federal Special Anti-Robbery Squad (FSARS) which has been alleged to be involved in abduction, harassment, extortion and murder of innocent victims.

READ: #EndSARS: I support the youths in this peaceful protests – Pastor Adeboye

Anonymous tweet, “Nigeria: Anonymous hacks multiple government websites in solidarity with #EndSARS protestors and retribution for violence by police. #OpNigeria #EndSARS Protest.”

#Nigeria: Anonymous hacks multiple government websites in solidarity with #EndSARS protestors and retribution for violence by police. #OpNigeria #EndSARSProtest

src: https://t.co/cjDdEfPB8w pic.twitter.com/F2J7qvz35W

— Anonymous (@YourAnonCentral) October 14, 2020

That said Anonymous did not disclose the identity of websites breached.

READ: #EndSARS: IGP says checking phones of Nigerians by any officer not acceptable

Backstory

Nairametrics had earlier given vital insights on how for years, young Nigerians, mostly via social media, have called for the unit to be disbanded and rogue elements in the force brought to justice. Despite repeated promises by the government, they have failed to heed to their demands, triggering a new wave of protests that have now spread across the country.

READ: #EndSARS: Lagos sets up N200 million fund for victims of police brutality

What you should know

Anonymous is a popular decentralized global activist group that is popularly known for many cyberattacks against several governments, government agencies, corporations, and the Church of Scientology.

READ: #EndSARS: Despite scrapping SARS, why are Nigerians still protesting?

Why it matters

From demanding an end to SARS, prosecution of rogue police officers, and reforms; protesters are more emboldened, threatening to continue if all their demands are not met. The government is scrambling to contain a situation that is escalating and could dangerously metamorphose into violent clashes with authorities, leading to loss of lives and destruction of properties.