By Scott Murdoch and Julie Zhu
HONG KONG (Reuters) – Ant Group’s $35 billion initial public offering (IPO) is unlikely to suffer from any U.S. restrictions on the Chinese financial technology giant due to its very limited overseas presence, potential investors and analysts said.
U.S. President Donald Trump is considering curbs on Ant, an affiliate of Chinese e-commerce firm Alibaba
, and Tencent <0700.HK> over concerns their payment platforms threaten national security, Bloomberg News reported on Wednesday.
If implemented, the restrictions would illustrate how Trump’s administration is seeking to prevent Chinese companies from embedding themselves in the U.S. financial system before they become a significant competitive threat.
Ant said it was not aware of any discussions within the administration about restrictions. Tencent and the White House did not immediately respond to requests for comment.
Ant is working towards a dual-listing in Shanghai and Hong Kong possibly as soon as this