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

R&T guides VietJet on historic $8 bln aviation deal

by Nimitt Dixit |

Singapore’s Rajah & Tann has advised Vietnam's VietJet Air on reaffirmation of its $8 billion deal with CFM International to acquire over 400 CFM advanced Leap 1B Aircraft Engines.

Davis Polk, Gibson Dunn advise on $2.3 bln Nippon Paint-AOC deal

Davis Polk & Wardwell has advised Japanese paint manufacturer Nippon Paint on its $2.3 billion acquisition of U.S. chemicals formulator AOC from Lone Star Funds, which was represented by Gibson, Dunn & Crutcher.

Stephenson Harwood, Links advise on $349 mln SG-UK taxi deal

Stephenson Harwood has advised Singaporean transport operator ComfortDelGro on its 269-million-pound ($349 million) acquisition of the British private hire cab and courier company Addison Lee, whose shareholders were represented by Linklaters.