BEIJING/HONG KONG - China's Ant Group has won the final nod from the country's top securities watchdog for the registration of its Shanghai offering, the regulator said on Wednesday , clearing the last regulatory hurdle for its US$35 billion dual-listing.
Ant is set to conduct price consultations for the Shanghai offering on Oct 23 and will set the price on Oct 27 as per its updated prospectus filed with the local exchange. The share sale plan comes after the China Securities Regulatory Commission accepted the registration of Ant's domestic float on the Nasdaq-style STAR Market, as part of the local rules. The company filed its preliminary prospectus in late August.
For the Hong Kong leg, Ant plans to start a brief pre-marketing period this week before opening order books next week. Its shares are likely to start trading a few days after the Nov 3 US presidential election, sources have said.
I pity those who invest in PRC stocks! It’s best not to touch evil investments!
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