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Ant Group Gets Nod to launch $35 billion IPO

Alibaba's Ant Group (Alipay) – There Is Nothing Ant-like In These Numbers – Tekedia

The Chinese digital payments company, led by Jack Ma, cleared the last regulatory hurdle yesterday and is expected to proceed with its $35 billion dual-listing in Shanghai and Hong Kong. It will become one of the most valuable financial companies in the world, QZ summarizes.

Ant, the fintech company backed by Chinese e-commerce group Alibaba Group Holding BABA.N, plans to list simultaneously in Hong Kong and Shanghai in the coming weeks, sources have said.

The listing could be the world’s largest initial public offering, surpassing the record set by Saudi Aramco’s $29.4 billion float last December. The IPO would also be the first simultaneous listing in Hong Kong and on the year-old STAR Market in Shanghai.