Initial nod given to Ant Group IPO plans: report
Chinese authorities have given a tentative green light to Jack Ma's Ant Group to revive its initial public offering plans in both Shanghai and Hong Kong, Reuters news agency reported on Thursday. Ant, an affiliate of Chinese e-commerce behemoth Alibaba, aims to file the preliminary prospectus for the offering as soon as next month, sources told Reuters. The group had planned a record US$37 billion IPO in Shanghai and Hong Kong in November 2020 before Beijing suspended the deal days before the stock was due to start trading.