GUANGZHOU, China — Ant Group has cleared the final regulatory hurdle for its massive initial public offering (IPO) with the pricing of its shares slated to be released within the next week.
On Wednesday, the China Securities Regulatory Commission gave the green light for Ant Group’s dual Shanghai and Hong Kong listing to go ahead. That came after the Hong Kong stock exchange also gave its approval for the offshore portion of the listing.
The Chinese financial technology giant, which is 33% owned by Alibaba and controlled by founder Jack Ma, also updated its IPO prospectus with information on the share structure. Read more…..
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Jack Ma’s Ant Group Co. Ltd. has won the green light from China’s securities watchdog for its IPO in Shanghai, clearing one of the final hurdles as it heads toward what could be the biggest share sale ever seen. Bloomberg’s Lulu Chen reports on “Bloomberg Daybreak: Asia.”