Chinese fintech giant Ant has been given the go-ahead by mainland regulators for its initial public offering in Hong Kong despite mounting headwinds from both domestically and abroad.
The Chinese securities regulator has approved the Hong Kong leg of its dual listing, which also includes Shanghai, according to a «Reuters» report citing unnamed sources.
The Ant listing aims raise $35 billion and surpass Saudi Aramco’s record-high $29.4 billion fundraising last December.
High Hurdles
Ant continues to proceed towards its listing despite a series of negative headlines both domestically and abroad.
In mainland China, there have been concerns about discounted share sales linked to an ex-Goldman Sachs banker and conflict of interest claims against Alipay by the China Securities Regulatory Commission.
And in the U.S., White House is reportedly considering a proposal that would place Ant on a trade blacklist over alleged worries about investor fraud alongside banking data and privacy risk.
