⁍ China’s Ant Group Co Ltd won approval from the Hong Kong Stock Exchange for the offshore leg of its IPO, two sources said.

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⁍ Backed by Chinese e-commerce giant Alibaba Group Holding Ltd, Ant passed the hearing with the exchange’s Listing Committee on Monday.

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⁍ The company plans to list simultaneously in Hong Kong and on Shanghai’s STAR Market in the coming weeks, sources said.

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– China’s Alibaba Group is planning what could be the world’s biggest initial public offering ever—if things go according to plan. Sources tell Reuters that Alibaba’s affiliate Ant Group has won approval from the Hong Kong Stock Exchange for the offshore leg of its $35 billion IPO, clearing the final regulatory hurdle. The sources say Ant plans to list simultaneously in Hong Kong and in Shanghai, beating the record set by Saudi Aramco’s $29.4 billion IPO last December. The sources say Ant shares are expected to start trading “a few days” after the US presidential election.