The Saudi Public Investment Fund is considering investing in the initial public offering of Ant Group, the Chinese financial technology company, which could become the largest in the world, according to Reuters sources.

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And last month, Ant, the financial technology unit of the Alibaba Group and the dominant company in the Chinese mobile payments sector, filed for dual listing in Hongkong and the Star Market. Market in Shanghai similar to the NASDAQ Stock Exchange.

and Reuters reported, citing three sources, that the size of the offering could reach $ 30 billion if market conditions allow.

This will make it the largest initial public offering in the world since the oil giant Saudi Aramco raised $ 29.4 billion last December, which in turn surpassed the record it achieved from Prior to launching the Chinese Alibaba Group Holding Company.

The two sources said that the Saudi sovereign fund had received overtures from you through advisors to consider investing in the process. One of the sources said they are studying the matter. In the case of going forward, it will be the most prominent direct investment of the Saudi fund in a Chinese company.

and the Public Investment Fund declined to comment. You spokesmen have not yet responded to a Reuters request for comment outside of business hours in Asia.

The You Offering will be the first to take place concurrently in Hong Kong and Star Market, which was established a year ago, which will strengthen Hong Kong as a global marketplace for IPOs and help improve Star status. As a center for financial markets.

the assets of the Public Investment Fund exceed $ 300 billion, and its investment injection was previously concentrated in the United States, but it was agreed in June to invest 1.49 billion dollars in Geo Platforms, The digital unit of Reliance Industries Group of India.

Yasser Al-Rumayyan, the fund's president, told CNBC last year that the fund was looking to China as it expanded its global investments. Since the growth of its activity in 2015, the Saudi Fund has taken bold steps to raise its global position.

the fund bought a $ 3.5 billion stake in Uber Technologies and invested $ 45 billion in the first technology investment fund to be established by SoftBank.

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