China regulator approves Ant Group’s Hong Kong IPO: IFR By

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© . FILE PHOTO: Alipay logo is pictured at the Shanghai office of Alipay, owned by Ant Group which is an affiliate of Chinese e-commerce giant Alibaba, in Shanghai

() – China’s securities regulator has approved financial tech firm Ant Group’s Hong Kong leg of a planned dual-listing worth up to $30 billion, IFR reported on Monday citing unnamed people familiar with the matter.

Ant, backed by e-commerce giant Alibaba Group (HK:), (N:) plans to seek listing approval from Hong Kong’s stock exchange on Monday and the China Securities Regulatory Commission will approve Ant’s Shanghai leg of the listing plan, IFR reported.

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