Ant nears blockbuster IPO as bankers eye fee bonanza

By Jonathan Breen, Rebecca Feng
27 Aug 2020

Ant Group started speaking to investors this week for mammoth IPOs on the Hong Kong and Star markets, which at an estimated size of $30bn would become the world’s largest ever share offering. The deal is a big win for both exchanges — and bankers in Hong Kong are also expecting a record fee from the deal. Jonathan Breen and Rebecca Feng report.

Ant is Alibaba Group Holding’s payments and digital finance affiliate, best known for its so-called ‘super app’ Alipay. The company is targeting Shanghai’s Nasdaq-style Star market and the main board of the Hong Kong Stock Exchange for its dual listing, which will make it the first issuer to ...

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