Ant, backed by Chinese e-commerce giant Alibaba Group, plans to list simultaneously 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, which also acted as a joint lead manager on Alibaba’s $12.9 billion secondary listing in Hong Kong last year, declined to comment. The Hong Kong leg of the IPO is being sponsored by China International Capital Corp, Citigroup, JPMorgan, and Morgan Stanley. The top-ranked banks in a Hong Kong IPO are known as sponsors and carry legal liability for the accuracy of the prospectus. Under them are joint global coordinators, and on the bottom rung are joint lead managers.

Source: bd News24 September 05, 2020 07:07 UTC