⁍ Ant Group will close institutional order books of the Hong Kong portion of its record-setting dual IPO ahead of schedule due to strong demand.

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⁍ The institutional book of the $17.2 billion Hong Kong listing was due to close on Thursday.

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⁍ The book was oversubscribed just one hour after the launch on Monday.

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– China’s Alibaba Group is planning to go public in both Hong Kong and Shanghai this week, in what would be the world’s biggest-ever IPO by a Chinese company, reports the Wall Street Journal. Ant Group—which operates China’s biggest mobile payment platform, per Reuters—is planning to sell 41.76 million shares in Hong Kong for about $17.2 billion, and 16 million shares in Shanghai for about $312 billion, according to a prospectus seen by the Journal. Ant is planning to sell shares to retail investors in Hong Kong, who are likely to be clamoring for their slice of the pie, reports the South China Morning Post. “The demand is overwhelming,” one broker tells Reuters. “It will smash all previous records.”