⁍ The Chinese financial technology firm plans to list in Hong Kong and on Shanghai’s STAR Market simultaneously.

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⁍ Ant is backed by Chinese e-commerce major Alibaba Group Holding Ltd.

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⁍ It aims to sell 10% to 15% of its enlarged share capital in the IPO, split evenly between Hong Kong and Shanghai.

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– China’s Ant Group plans to raise up to $35 billion with the world’s biggest initial public offering since Saudi Aramco’s $29.4 billion offering in December, sources tell Reuters. The financial technology firm plans to list in Hong Kong and on Shanghai’s STAR Market simultaneously in what could be the world’s largest initial public offering, surpassing Saudi Aramco’s $29.4 billion record set in December. Ant, backed by Chinese e-commerce major Alibaba Group Holding Ltd., declined to comment. The firm plans to seek listing approval from Hong Kong’s stock exchange on Monday, Refinitiv publication IFR reported, citing people familiar with the matter. IFR also said the China Securities Regulatory Commission is set to approve Ant’s Star Market IPO this week. Ant plans to start a brief pre-marketing period this week before opening order books next week, IFR reported, saying Ant’s shares are likely to start trading “a few days” after the Nov. 3 US presidential election.