Ant Group, Alibaba’s fintech arm and China’s dominant mobile payments firm, on Tuesday filed for a dual listing in Hong Kong and on Shanghai’s Nasdaqstyle STAR Market which could raise as much as $30 billion and become the world’s largest IPO ever.
- Reuters
- Last Updated: August 25, 2020, 2:52 PM IST
HONG KONG: Ant Group, Alibaba’s fintech arm and China’s dominant mobile payments firm, on Tuesday filed for a dual listing in Hong Kong and on Shanghai’s Nasdaq-style STAR Market which could raise as much as $30 billion and become the world’s largest IPO ever.
Ant’s initial public offering would be the first simultaneous listing in Hong Kong and the year-old STAR Market, and help both bourses boost their status as capital market centres.
Ant, already the world’s most valuable unicorn – or billion-dollar unlisted tech firm – did not disclose the size, timetable or other key details of the offering in its preliminary prospectus.
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Ant did not immediately respond to a request for comment on its IPO details.
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