Skip to main content

Simpson Thacher & Bartlett and Fangda Partners are advising Chinese fintech firm Ant Group on its planned $30 billion initial public offering in Hong Kong and Shanghai, with Freshfields Bruckhaus Deringer and King & Wood Mallesons counselling the joint sponsors.

The IPO of Ant Group, the fintech arm of Chinese e-commerce giant Alibaba, is being touted as world’s largest offering, topping oil giant Saudi Aramco, which raised $29.4 billion last December. It is expected to surpass the record set by Alibaba’s own $25 billion float in New York 2014.

According to Reuters, Ant’s IPO would be the first simultaneous listing in Hong Kong and the year-old STAR Market in Shanghai, boosting Hong Kong’s status as an international IPO market and helping enhance STAR as a capital markets centre.

Ant, already the world’s most valuable unicorn, did not disclose the size, timetable or other key details of the offering in its preliminary prospectus. Through this IPO, Ant is looking to sell between 10 percent and 15 percent of its shares, Reuters added.

 

To contact the editorial team, please email ALBEditor@thomsonreuters.com.

Related Articles

Deals

Khaitan, JSA, Hogan Lovells guide $515 mln Waaree IPO

by Nimitt Dixit |

Khaitan & Co has advised Waaree Energies, India's largest manufacturer and exporter of solar modules, on its $515 million initial public offering, with JSA Advocates & Solicitors and Hogan Lovells guiding the bookrunning lead managers.

Deals

CAM, Khaitan guide Adani-backed Renew Exim’s $380 mln ITD acquisition

by Nimitt Dixit |

Cyril Amarchand Mangaldas has advised Adani Group's Dubai-based firm Renew Exim DMCC on its acquisition of a 46.64 percent stake in ITD Cementation India for around $380 million from Italian-Thai Development Public Company, who was represented by Khaitan & Co.

Deals

CAM, AZB, SAM, Latham advise on landmark $1.3 bln Swiggy IPO

by Nimitt Dixit |

Cyril Amarchand Mangaldas is advising SoftBank-backed Indian food and grocery delivery giant Swiggy on its much-anticipated initial public offering worth $1.3 billion, with AZB & Partners and Latham & Watkins advising the bookrunning lead managers.