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Ant Group gears up a dual-listing IPO in China
Ant Group (former Ant Financial), an affiliate of Chinese e-commerce giant Alibaba, announced that it has started the process of a dual listing in Hong Kong and Shanghai.
Although no specific listing date has been announced, the news of Ant Group's official listing has been enough to shake the capital market, with both the SSE (Shanghai Stock Exchange) and the HKEx ( Hong Kong stock exchange) giving positive responses to Ant Group's actions.
• The SSE said that Ant Group's application for the STAR board demonstrates the market attractiveness and international competitiveness of the board as the "preferred listing place" for Chinese science and technology enterprises.