HONG KONG - Ant Group’s planned sale of up to $30 billion worth of shares is set to revive fortunes for Hong Kong Exchanges and Clearing Ltd which fell to fifth rank as a destination for initial public offerings in the first half of 2020.
China’s dominant mobile payments firm and fintech arm of Alibaba Group Holding Ltd on Tuesday filed for a dual-listing in Hong Kong and on Shanghai’s STAR Market in what could be the world’s largest IPO. Hong Kong was the world’s top listing venue in 2019, due to Alibaba’s $12.9 billion secondary listing there, but ranked third for IPOs, Refinitiv data showed. It was top for IPOs in 2018.
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