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When will Ant Group crawl its way back to an eventual IPO?

Nicole Lim
Nicole Lim • 7 min read
When will Ant Group crawl its way back to an eventual IPO?
Monetary Authority of Singapore’s chief fintech officer Sopnendu Mohanty (left), with Ant Group’s CEO and chairman, Eric Jing, at the recent Singapore Fintech Festival. Photo: Elevandi
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On the second day of the Singapore Fintech Festival (SFF), a video of the Monetary Authority of Singapore’s (MAS) chief fintech officer Sopnendu Mohanty swiftly followed the opening remarks by its managing director, Ravi Menon. Born in East India, Mohanty spoke fluently in Mandarin: “I want to welcome everyone to this year’s fintech festival with an extra special touch — in your own language.”

Then, Chinese fintech giant Ant Group’s CEO and chairman, Eric Jing, said in perfect Hindi: “Namaste, I’m Eric Jing’s artificial intelligence (AI) avatar from the Ant Group, here to discuss technology’s superpower with Mr Mohanty. Isn’t technology wonderful to enable us to communicate globally?” Mohanty and Jing’s likeness then took turns introducing their panel in Japanese, Bahasa, and Filipino. 

The men’s newfound multilingual abilities undoubtedly showcased AI’s potential, the prevailing technology theme of 2023 and a central topic at this year’s SFF. However, behind the playful video loomed a larger issue over Jing’s head, one that Singapore is closely watching: When will Ant Group finally go public?

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