Exclusive: Goldman Sachs joins Ant’s up to $30 billion IPO banking syndicate, sources say

By Julie Zhu, Kane Wu and Scott Murdoch

HONG KONG (Reuters) – Goldman Sachs has joined the growing list of investment banks working on Chinese financial technology firm Ant Group’s initial public offering of up to $30 billion, as a joint lead manager on the Hong Kong leg, two people with direct knowledge of the matter said.

Ant, backed by Chinese e-commerce giant Alibaba Group <9988.HK>, plans to do a simultaneous listing in Hong Kong and Shanghai, in what sources have said could be the world’s largest IPO and come as soon as October.

A spokesman for Goldman Sachs declined to comment on the appointment. Ant also declined to comment.

(Reporting by Julie Zhu, Kane Wu and Scott Murdoch in Hong Kong; Editing by Sumeet Chatterjee and William Mallard)