HONG KONG - Ant Group Co Ltd has received approval from China’s securities regulator for the Hong Kong leg of its roughly $35 billion dual listing, two people with knowledge of the matter told Reuters on Monday.
The Chinese financial technology firm plans to list in Hong Kong and on Shanghai's STAR Market simultaneously in what could be the world's largest initial public offering , surpassing Saudi Aramco'sThe firm plans to seek listing approval from Hong Kong’s stock exchange on Monday, said one of the people, who declined to be identified as the matter was not yet public.Refinitiv publication IFR reported the approval from the China Securities Regulatory Commission earlier on Monday.
Ant originally aimed to meet Hong Kong’s bourse on Sept. 24 and launch the IPO after the week-long Chinese National Day holiday that ended on Oct. 8, sources previously told Reuters. The regulator was looking into the role of Alipay, Ant’s flagship payment platform, as retail investors’ only third-party channel to buy into five Chinese funds investing in the IPO.
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