Ant Group delivers timely boost to HK listing market

An employee stands next to the logo of Ant Financial Services Group, Alibaba's financial affiliate, at its headquarters in Hangzhou, Zhejiang province, China. - Filepic Reuters

HONG KONG: Ant Group's planned sale of up to $30 billion worth of shares is set to revive fortunes for Hong Kong Exchanges and Clearing Ltd (HKEX) which fell to fifth rank as a destination for initial public offerings (IPOs) in the first half of 2020.

China's dominant mobile payments firm and fintech arm of Alibaba Group Holding Ltd on Tuesday filed for a dual-listing in Hong Kong and on Shanghai's STAR Market in what could be the world's largest IPO.