Alibaba fintech arm gets nod for record IPO listing in Hong Kong


Source: digitaljournal.com

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The financial arm of Chinese e-commerce titan Alibaba received Monday a green light from Chinese regulators to list in Hong Kong, according to data published online, another step towards the biggest IPO in history. Ant Group aims to raise a massive $35 billion via the share sale in a joint listing in the semi-autonomous finance hub and Shanghai, Bloomberg News has previously reported, citing unnamed sources. The company is looking to raise the cash -- far more than the $29 billion chalked up by Saudi Aramco in December -- in a split float between the two Chinese cities, Bloomberg said....