Ahead of IPO, Ant Group faces an identity conundrum — is it a tech firm or a bank?

Ahead of IPO, Ant Group faces an identity conundrum — is it a tech firm or a bank?

Photographer: Anthony Kwan/Bloomberg

China’s Ant Group, about to make the biggest public sale of shares ever, poses a basic conundrum: what kind of company is it — a financial colossus or a tech giant?