# Ant Group set to get green light for massive Hong Kong listing
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Ant Group set to get green light for massive Hong Kong listing
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Ant seeks concurrent IPOs in Hong Kong and Shanghai, raising more than $30 billion
Ant, which is controlled by billionaire Jack Ma, is set to be the first Chinese company in a decade to list in both markets at the same time.
AFP via Getty Images
China’s securities regulator cleared the way for Ant Group Co. to proceed with its Hong Kong listing, one of several regulatory nods the financial technology giant needs before it can go public.
The Stock Exchange of Hong Kong will hold a listing hearing Monday to determine whether Ant’s initial public offering can proceed in the city, people familiar with the matter said, after the company received a notice from the China Securities Regulatory Commission early Monday.
BABA,
could raise more than $30 billion in the concurrent offerings and earn a market valuation between $200 billion and $300 billion, The Wall Street Journal previously reported.
The Shanghai Stock Exchange last month approved the company’s plans for the onshore listing. Hangzhou-based Ant still needs a final signoff from the CSRC to launch the Shanghai leg of its IPO.
An expanded version of this report appears on WSJ.com.
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