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If Ant can’t go public yet, its bike-sharing firm will!INTL

If Ant can’t go public yet, its bike-sharing firm will!

Ain’t nobody stopping Ant Group from getting to the public markets, even if they have to cycle their way there (pun very much intended!).

Hello Inc, the Chinese bike-sharing giant that is backed by Ant, has reportedly filed for a US public listing confidentially. The IPO size is still to be determined, but word on the street is that the Shanghai-based startup (which is valued at $5b) can raise up to $1b.

At the expense of sounding like a broken record, Hello joins a long list of tech companies taking advantage of the surge in valuations to publicly list their shares, including Instacart, Coinbase, and Bumble (BMBL).

why it matters
Ant itself was meant to go public with a record-shattering $37b IPO back in November, but plans came to a halt after its founder Jack Ma made some pretty risky comments about China’s regulatory banking rules, which didn’t go down well with the government. If and when Ant goes public, its valuation is expected to be decimated in half because of the scandal.