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


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FILE PHOTO: Employee stands next to the logo of Ant Financial Services Group at its headquarters in Hangzhou More By Julie Zhu HONG KONG (Reuters) - China's Ant Group plans to raise about half of its $35 billion (27.50 billion pounds) dual listing in Hong Kong and will not offer a cornerstone tranche as it bets on strong demand from institutional investors, sources said. Backed by Chinese e-commerce giant Alibaba , Ant plans to list simultaneously in Hong Kong and on Shanghai's STAR Market next month in what could be the world's largest IPO, surpassing oil giant Saudi Aramco's $29.4...