BookmarkHONG KONG: China's Ant Group has received approval from the Shanghai Stock Exchange for a domestic initial public offering, the bourse said on Friday, bringing the financial technology firm closer to a dual-listing expected to be worth up to US$30 billion.
Backed by Chinese e-commerce giant Alibaba , Ant plans to list simultaneously in Hong Kong and on Shanghai's STAR Market, in what sources have said could be the world's largest IPO and come as soon as October.AdvertisementAdvertisementThe company is planning to seek listing approval from the Hong Kong Stock Exchange as early as next week, said two people with direct knowledge of the matter.
Ant aims to open books after China's week-long National Day holiday on October 1-7 and go public around the end of next month, said the sources, who declined to be identified due to confidentiality constraints.The timetable has not yet been finalized and is subject to change, they cautioned.
Ant and the Hong Kong Stock Exchange did not immediately respond to requests for comment.Advertisement(Reporting by Julie Zhu; editing by Jason Neely) Read more: CNA »
No train service on parts of North-South, East-West, Circle lines after power fault
There was a partial blackout at Boon Lay station while passengers at Choa Chu Kang station were detrained and walked on the tracks that run above the street.. Read more at straitstimes.com.
Jack Ma's Ant Group hit by flurry of new rules ahead of mega IPOBEIJING (BLOOMBERG) - Ant Group was dealt another blow by yet more regulations to contain risks in the country's burgeoning online lending industry as Jack Ma 's financial technology giant prepares for its initial public offering.. Read more at straitstimes.com.
Chip group to warn Trump administration against blacklisting China's SMICWASHINGTON (REUTERS) - Companies that supply the chip sector with sophisticated and expensive equipment plan to warn the Trump administration against a proposal to blacklist China's top chipmaker, Semiconductor Manufacturing International Corp (SMIC), arguing it would be 'detrimental' to US industry.. Read more at straitstimes.com.
First man in SG Nasi Lemak Telegram chat group case pleads guiltySINGAPORE: A man in a case where obscene images of women were circulated in a Telegram chat group named SG Nasi Lemak pleaded guilty on Friday ...
Apparel group says broad ban on China's Xinjiang cotton impossible to enforceWASHINGTON: The head of a major apparel industry group told lawmakers on Thursday (Sep 17) that blanket US import bans on cotton or other products ...
SoftBank Group to sell US cellphone distributor Brightstar in latest asset saleSoftBank Group Corp said on Friday it would sell U.S. cellphone distributor Brightstar Global Group for an undisclosed price, marking the latest ...
British bird group issues gag order over Taiwan-China issueTAIPEI (REUTERS) - A British-based wild bird body has issued a gag order telling employees not to comment on its decision to expel a Taiwan conservation group that refused to sign a document related to the Chinese-claimed island's political position.. Read more at straitstimes.com.