Jack Ma's Ant Group said it is planning dual initial public offerings in Hong Kong and Shanghai. The combined offering could be one of the largest in history.
HONG KONG—Ant Group Co., the Chinese technology and financial-services giant that owns popular mobile-payments network Alipay, said it is planning concurrent initial public offerings in Hong Kong and Shanghai as it seeks to accelerate its growth in China and abroad.
The Hangzhou-based company, which was founded by billionaire Jack Ma, said it is targeting a listing on the year-old STAR board for homegrown technology companies in China, in addition to a listing on Hong Kong’s stock exchange.
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