Alibaba’s Ant Group files for blockbuster dual listing in Hong Kong, Shanghai

imageTechnology18 minutes ago (Aug 25, 2020 05:25AM ET)

(C) Reuters. The logo of Ant Financial Services Group is pictured at its headquarters in Hangzhou

HONG KONG (Reuters) – Ant Group, Alibaba (NYSE:BABA)’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.

Ant did not immediately respond to a request for comment on its IPO details.

Alibaba’s Ant Group files for blockbuster dual listing in Hong Kong, Shanghai

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