PHILO PHOTO: The logo of Ant Financial Services Group, the financial subsidiary of Alibaba, is displayed at its headquarters in Hangzhou, Zhejiang Province, China January 24, 2018. Image taken January 24, 2018. REUTERS / Shu Zhang
HONG KONG (Reuters) – Ant Group, the fintech charm of Chinese e-commerce company Alibaba Group Holding (BABA.N), has made a preparatory visit to China’s security regulator for its planned blockbuster initial public offering.
The group, China’s largest mobile payments company, said in July that the process had begun for a double listing in Hong Kong and on Shanghai’s Nasdaq-like STAR brand, making it one of the most highly anticipated IPOs of ‘ the world began.
Ant Group has not yet disclosed the size, schedule or other details of the offer at this time.
The company is advised of a domestic listing by CICC and CSC Financial, a statement published on the official website of Zhejiang Regulatory Bureau of China Securities Regulatory Commission showed on Friday, suggesting that the two Chinese investment banks will lead their IPO on the world .
Reuters reported earlier last month that Ant was planning a fleet from Hong Kong so this year, targeting a valuation of more than $ 200 billion. It was valued at about $ 150 billion in its last round of funding in 2018.
Report by Kane Wu. Edited by Jane Merriman
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