Ant comes closer to jumbo listing as investors vie for $35bn deal

Ant_Financial_Adobe_575x375_17Aug20
By Addison Gong, Jonathan Breen
22 Oct 2020

China’s Ant Group kicked off marketing for its Hong Kong and Shanghai dual listing on Thursday, the last stage before launching a possible $35bn IPO, set to be the world’s largest to date. The combined offering is already more than a third covered by onshore investors, with global buyers lining up for the rest. Addison Gong and Jonathan Breen report.

Ant, best known for its so-called super-app Alipay, is holding concurrent IPOs on the Hong Kong Stock Exchange and Shanghai’s Nasdaq-style Star Market.

The company got the green light for its Hong Kong listing on Monday from Hong Kong Exchanges and Clearing and the China Securities Regulatory Commission ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial