Simpson Thacher, Fangda Lead Ant Group's Massive Dual IPO
Freshfields Bruckhaus Deringer and King & Wood Mallesons represent the underwriters in what's shaping up to be the world's largest IPO ever.
August 26, 2020 at 06:26 AM
3 minute read
Simpson Thacher & Bartlett, Fangda Partners, Freshfields Bruckhaus Deringer and King & Wood Mallesons are leading Chinese fintech company Ant Group's upcoming dual listings in both Hong Kong and Shanghai that could fetch up to $30 billion, making it potentially the world's largest initial public offering ever.
Based in Hangzhou, Ant Group operates one of China's most popular mobile financial apps Alipay and is a close affiliate of Chinese ecommerce giant Alibaba Group. The company has filed to list both on the main board of the Hong Kong Stock Exchange and China's Science and Technology Innovation Board on the Shanghai Stock Exchange. Ant's IPO is expected to surpass that of Saudi Aramco's $29.4 billion listing in December 2019; according to a report by Bloomberg, the deal could raise $30 billion.
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