Ant Group to raise $17.5 billion via Hong Kong IPO without cornerstone investors: sources


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Email 2/2 ©Reuters SUBMIT IMAGE: Alipay logo design is envisioned at the Shanghai workplace of Alipay, owned by Ant Group which is an affiliate of Chinese e-commerce giant Alibaba, in Shanghai 2/2 HONG KONG (Reuters) – China’s Ant Group strategies to raise about half of its $35 billion double listing via the Hong Kong leg, without establishing a cornerstone tranche and banking on strong need from institutional financiers even without lock-up dedications, sources stated. Backed by Chinese e-commerce giant Alibaba (N:-RRB-, Ant strategies to list all at once in Hong Kong and on Shanghai’s STAR Market next month, in what...