Jack Ma’s Ant Groups passes hearing for STAR Market IPO

HONG KONG (Reuters) – China’s Ant Group has passed a hearing with the Shanghai Stock Exchange for an initial public offering, the bourse said on Friday, bringing the financial technology firm closer to a dual-listing expected to be worth up to $30 billion.

Backed by Chinese e-commerce giant Alibaba , Ant plans to list simultaneously in Hong Kong and on Shanghai’s STAR Market, in what sources have said could be the world’s largest IPO and come as soon as October.

(Reporting by Julie Zhu; editing by Jason Neely)