HK bourse clears Ant Group for listing, report says

Business | 20 Oct 2020 10:01 pm

Ant Group has received approval from the Hong Kong stock exchange for its highly-anticipated initial public offering, clearing the last major regulatory hurdle before its listing, CNBC has confirmed.

The company passed a hearing with the exchange on Monday, a person familiar with the matter said. Reuters first reported the news.

Now Ant Group needs to file a registration with the Chinese regulators before proceeding with a roadshow and the eventual pricing of the IPO, the person, who preferred to remain anonymous as they are not authorized to speak publicly, added.

Ant Group declined to comment when contacted by CNBC. The Hong Kong stock exchange was not immediately available for comment.

The financial technology giant, which is 33 percent owned by Alibaba and controlled by founder Jack Ma, is seeking a concurrent listing in Shanghai and Hong Kong.

The China Securities Regulatory Commission (CSRC) gave the green light for the Hong Kong portion of the IPO, earlier this week.

 

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