Goldman Sachs joins syndicate for Ant IPO of up to US$30b: sources

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[HONG KONG] Goldman Sachs has joined the growing list of investment banks working on Chinese financial technology firm Ant Group's mammoth initial public offering (IPO) of up to US$30 billion, two people with direct knowledge of the matter said. Read more at The Business Times.

The IPO of Ant, already the world's most valuable unicorn - or billion-dollar unlisted tech firm - would be the first simultaneous listing in Hong Kong and Shanghai's year-old STAR Market.

The top-ranked banks in a Hong Kong IPO are known as sponsors and carry legal liability for the accuracy of the prospectus. Under them are joint global coordinators, and on the bottom rung are joint lead managers.China's largest brokerage, Citic Securities , is set to get a joint underwriter's role on the mainland tranche, four people with knowledge of the matter said on Friday.

 

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