Ant Group has received approval from Chinese regulators to list its shares in Hong Kong, said three people with direct knowledge of the matter, clearing one of the last hurdles to the group’s $30bn initial public offering.
The Chinese payments group controlled by billionaire Jack Ma is planning a dual listing in Shanghai and Hong Kong, in what could be the world’s biggest IPO.
The three people said Ant had been given clearance by the China Securities Regulatory Commission on Monday to proceed with the Hong Kong leg of the IPO. However, the company still needs approval from the Hong Kong stock exchange’s listing committee. Two of those people said the committee could hear Ant’s application later on Monday or on Tuesday.