Alibaba fintech arm eyes record IPO with Hong Kong-Shanghai listing


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The financial arm of Chinese e-commerce titan Alibaba is planning the biggest IPO in history, raising as much as $35 billion in a joint listing in Hong Kong and Shanghai, a report said Thursday. And in a sign of Ant Group's confidence in the share sale, it will not seek cornerstone investors -- large institutions that agree to hold the stock for an extended time to provide confidence and stability in new listings. The company is looking to raise the cash -- which would be far higher than the $29 billion chalked up by Saudi Aramco in December -- in...