Ant Group, the financial services affiliate of Chinese e-commerce giant Alibaba, said on July 20 that it had started the process for a dual listing on Shanghai's Nasdaq-style STAR market and the Hong Kong stock exchange. Details such as the size and timetable of the initial public offering were not disclosed.
Ant was valued at $150 billion in its last private fundraising round in 2018. The company is targeting a valuation of more than $200 billion from the IPO, Reuters reported on July 8.
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