Ant Group gets Chinese Approval for Hong Kong Listing

Ant Group gets Chinese Approval for Hong Kong Listing

On Monday, Ant Group Company Ltd. reported to get a nod for its Hong Kong-based company, worth 27 billion pounds ($35B) for dual listing from Chinese Securities regulator. The firm is planning to get publicly listed on Shanghai’s STAR market and Hong Kong’s leading index, which is anticipated to be world’s biggest IPO (Initial Public Offering), the record yet held by Saudi Aramco in December for $29.4 billion.

Ant Group projects to sell its 10 to 15% stake from its total share capital in the IPO, equally divided between Shanghai and Hong Kong. Notably, Ant Group, which is Alibaba’s finance technology arm, is yet to get a nod from CSRC for its Shanghai IPO, scheduled this week.

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