Ant Group IPO Gets The Green Light From Regulators For Its Blockbuster Listing
Hong Kong (CNN Business)Ant Group — the crown jewel of billionaire Jack Ma's tech empire — is one step closer to its highly anticipated market debut.
China's securities regulator said Wednesday that Ant has received the green light for its Shanghai public offering, and has now cleared all regulatory hurdled for a dual-listing that is expected to rake in billions.
Ant, the financial technology company affiliated with Chinese e-commerce group Alibaba(BABA), plans to list simultaneously in Hong Kong and Shanghai.
Ant will announce the IPO's share price on October 27, according to updated regulatory filings.
The listing is expected to set a new world record, surpassing the $29.4 billion float by Saudi Aramco's IPO last December. The IPO would also be the first simultaneous listing in Hong Kong and on Shanghai's Star Market, China's answer to the Nasdaq.
- Oct 22, 2020-