Hong Kong Stock Exchange approves Ant Group´s IPO
The 35bn IPO has passed the required regulatory hurdles.
Multiple media outlets have confirmed that fintech Ant Group (BABA + 1.6%) passed a hearing with the Hong Kong Stock Exchange yesterday that took Ant over the final regulatory hurdle by granting approval for this branch of the dual IPO. Ant Group must now file a registration with Chinese regulators before it can begin the roadshow and pricing for the IPO. The company could raise $ 35 billion on its Hong Kong and Shanghai listings with a valuation of $ 280 billion, making it the largest public offering in the world. Earlier this week, the China Securities Regulatory Commission gave the go-ahead for the Hong Kong listing. Retired Alibaba Chairman Jack Ma owns Ant Group, and Alibaba has a 33% non-controlling stake.