Alibaba Subsidiary Ant Group Pursues Dual Listing in Hong Kong and Shanghai

Estimated Ant Group Valuation at 165 Trillion KRW
Simultaneous Listing Success to Elevate Hong Kong and Shanghai Stock Market Status

[Asia Economy Beijing=Special Correspondent Jo Young-shin] Ant Group, the fintech specialized financial subsidiary of Alibaba, China's largest e-commerce company, is planning the world's first simultaneous listing on the Hong Kong and Shanghai stock exchanges.

According to Sina.com and others on the 26th, Ant Group applied on the 25th for simultaneous listing on the Shanghai Stock Exchange Science and Technology Innovation Board (known as the STAR Market, Chinese name Kechuangban), which is called China's Nasdaq, and the Hong Kong stock market.

A source from the Chinese securities industry said, "Ant Group is expected to be listed as early as October this year," adding, "The corporate value of Ant Group is estimated to reach 960 billion yuan (approximately KRW 164.95 trillion)."

Through this initial public offering (IPO), Ant Group is expected to raise about 30 billion dollars (KRW 35.6 trillion), making it the largest IPO in history worldwide.

The largest IPO in history was Saudi Arabia's state-owned oil company Aramco, for which Goldman Sachs acted as the lead underwriter. The initial public offering amount was 25.6 billion dollars. Later, when Goldman Sachs exercised the overallotment option (greenshoe), the final offering amount increased to 29.4 billion dollars (KRW 34.14 trillion).

Major foreign media reported that if Ant Group's listing is realized, it will also help enhance the status of the Shanghai and Hong Kong stock exchanges as central hubs of the capital market.

Ant Group has not disclosed other major details such as the IPO size and schedule.

This content was produced with the assistance of AI translation services.