Backed by Alibaba, Ant plans to list simultaneously in Hong Kong and on Shanghai’s STAR Market in the coming weeks. Ant was set to conduct price consultations for the Shanghai offering on October 23 and will set the price on October 26, according to its updated prospectus filed with the local exchange. For the Hong Kong leg, Ant plans to open order books next week. Ma said the global financial system is outdated, adding that current regulations were slowing down innovation. He called for setting up a new, inclusive and universal financial system that benefits small companies and individuals and drive future growth.

Source: The Standard October 24, 2020 04:30 UTC