Alibaba fintech arm eyes record IPO with HK-Shanghai listing

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 Groupࢀ™s confidence in the share sale, it will not seek cornerstone investorslarge 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 cashwhich would be far higher than the $29 billion chalked up by Saudi Aramco in Decemberin a split float between the two…