Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious OutperformanceFind Stocks Now

China regulator approves Ant Group's HK IPO: IFR

Published 2020-10-18, 09:03 p/m
Updated 2020-10-18, 09:36 p/m
© Reuters. FILE PHOTO: Alipay logo is pictured at the Shanghai office of Alipay, owned by Ant Group which is an affiliate of Chinese e-commerce giant Alibaba, in Shanghai

(Reuters) - China's securities regulator has approved financial tech firm Ant Group's Hong Kong leg of a planned dual-listing worth about $35 billion, IFR reported on Monday citing unnamed people familiar with the matter.

Ant, backed by e-commerce giant Alibaba Group (HK:9988), (N:BABA) plans to seek listing approval from Hong Kong's stock exchange on Monday and the China Securities Regulatory Commission will approve Ant's Shanghai leg of the listing plan, IFR reported.

(This story corrects worth of Ant's planned dual listing to about $35 billion, not up to $30 billion, in first paragraph)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.