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Goldman Sachs joins Alibaba-backed Ant's IPO offering of up to $30 billion

Ant, backed by Chinese e-commerce giant Alibaba Group, plans to do a simultaneous listing in Hong Kong and Shanghai, in what sources have said could be the world's largest IPO and come as soon as October

twitter-logoReuters | September 5, 2020 | Updated 12:26 IST
Goldman Sachs joins Alibaba-backed Ant's IPO offering of up to $30 billion

Goldman Sachs has joined the growing list of investment banks working on Chinese financial technology firm Ant Group's initial public offering of up to $30 billion, as a joint lead manager on the Hong Kong leg, two people with direct knowledge of the matter said.

Ant, backed by Chinese e-commerce giant Alibaba Group, plans to do a simultaneous listing in Hong Kong and Shanghai, in what sources have said could be the world's largest IPO and come as soon as October.

A spokesman for Goldman Sachs declined to comment on the appointment. Ant also declined to comment.

Also read: Jack Ma's Ant Group files for IPO in Hong Kong, Shanghai; eyes $225 billion valuation

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