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According to Reuters, sources said that the world's most valuable emerging technology company was seeking to sell shares in Hong Kong and mainland China at the same time, but is now firmly leaning towards the offering. In Hong Kong first, where the listing will likely be smoother.
One of the sources stated that the company is looking to sell between five and ten percent of its shares in an initial public offering, while it will constitute one of the largest listings in the world this year. p>
The sources, who warned that the details had not yet been finalized and subject to change, said the company had worked with its consultants in the past months on the proposed launch.
In response, Ant said that information about her plans for the IPO was incorrect. Ali Baba has not yet responded to a request for comment.
The sources requested that their names not be released because the information is private.
Ant is based in Hangzhou, in eastern China, and Alibaba Group Holding owns 33 percent of it and is managed by Jack Ma, founder of Alibaba.
The inclusion of Ant in Hong Kong, one of the most anticipated and controversial public offerings in the world, will cement the city's position as a global hub for financial markets at a time when its leaders face strong criticism for its China imposed a strict national security law last month.
Capital raising has received support this year from tensions between China and the United States, as several Chinese companies listed in the United States plan to make sub-offerings in Hong Kong to contribute to Create a base for investors closer to home.
