FINANCIAL TECHNOLOGY | Staff Reporter, Hong Kong

Ant Group to close $17.2b Hong Kong IPO a day early: report

It’s $34.4b dual listing clinches the record for the world’s largest stock market debut.

Ant Group will close its Hong Kong institutional book building one day early, reports Reuters, according to two sources with direct knowledge of the matter.

The Chinese fintech giant aims to raise $17.2b in the city.

The book is due to close on Thursday, but that deadline will be accelerated to Wednesday 5PM.

The order book was oversubscribed one hour after the launch on Monday, sources said.

The group is looking to raise up to $34.4b in a dual listing in Hong Kong and Shanghai.

The value puts it as the world’s largest stock market debut and would value Ant Group at $312b—larger than the world’s biggest bank by assets, the Industrial and Commercial Bank of China, according to Reuters.

Here’s more from Reuters.

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