Alibaba's Ant Group files for blockbuster dual listing in Hong Kong, Shanghai

Credit: REUTERS/STAFF

Ant Group, Alibaba's fintech arm and China's dominant mobile payments firm, on Tuesday filed for a dual listing in Hong Kong and on Shanghai's Nasdaq-style STAR Market which could raise as much as $30 billion and become the world's largest IPO ever.

HONG KONG, Aug 25 (Reuters) - Ant Group, Alibaba's fintech arm and China's dominant mobile payments firm, on Tuesday filed for a dual listing in Hong Kong and on Shanghai's Nasdaq-style STAR Market which could raise as much as $30 billionand become the world's largest IPO ever.

Ant's initial public offering would be the first simultaneous listing in Hong Kong and the year-old STAR Market, and help both bourses boost their status as capital market centres.

Ant, already the world's most valuable unicorn - or billion-dollar unlisted tech firm - did not disclose the size, timetable or other key details of the offering in its preliminary prospectus.

Ant did not immediately respond to a request for comment on its IPO details.

(Reporting by Julie Zhu; editing by Christopher Cushing and Jason Neely)

((julie.zhu1@thomsonreuters.com; +852 2843 6519; Reuters Messaging: julie.zhu1.thomsonreuters.com@reuters.net))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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