Chinese fintech firm Ant Group’s application for a local IPO will be reviewed on September 18, the Shanghai stock exchange said on Wednesday.
Ant is planning to list simultaneously in Hong Kong and on Shanghai’s STAR Market. Sources revealed it could be the world’s largest IPO.
Under the local rules, once the company goes through the listing committee’s hearing, it can then register the flotation with the country’s securities regulator before initiating the pricing consultation process.
Ant Group is the fintech arm of Chinese e-commerce company Alibaba Group Holding.