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Deals

China regulator approves Ant Group's HK IPO: IFR

FILE PHOTO: Alipay logo is pictured at the Shanghai office of Alipay, owned by Ant Group which is an affiliate of Chinese e-commerce giant Alibaba, following the coronavirus disease (COVID-19) outbreak, in Shanghai, China September 14, 2020. REUTERS/Aly Song/File Photo

(Reuters) - China’s securities regulator has approved financial tech firm Ant Group’s Hong Kong leg of a planned dual-listing worth about $35 billion, IFR reported on Monday citing unnamed people familiar with the matter.

Ant, backed by e-commerce giant Alibaba Group 9988.HK, BABA.N plans to seek listing approval from Hong Kong's stock exchange on Monday and the China Securities Regulatory Commission will approve Ant's Shanghai leg of the listing plan, IFR reported.

(This story corrects worth of Ant’s planned dual listing to about $35 billion, not up to $30 billion, in first paragraph)

Reporting by Se Young Lee

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