China’s Ant wins Hong Kong nod for $35 billion dual listing, sources say By Reuters

© 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

HONG KONG (Reuters) – China’s Ant Group Co Ltd [IPO-ANTG.HK] has won approval from the Hong Kong stock exchange for the offshore leg of its IPO, two sources said, clearing the last key regulatory hurdle to launch its dual-listing expected to be worth about $35 billion.

Backed by Chinese e-commerce giant Alibaba (NYSE:) Group Holding Ltd, Ant passed the hearing with the bourse’s Listing Committee on Monday, sources said, speaking on condition of anonymity because the information is not public.

Ant and the Hong Kong Stock Exchange did not immediately respond to requests for comment.

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