⁍ Chinese financial technology giant Ant Group has set terms for a dual listing aimed at raising up to $34.4 billion from the world’s largest stock market debut.

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⁍ The deal would value Ant at more than $313 billion before a so-called greenshoe option for a 15% overallotment of shares.

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⁍ The looming market debut, however, is clouded by concerns over growing regulatory scrutiny of Ant’s lucrative consumer credit business.

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– China’s Ant Group will begin trading on the Hong Kong Stock Exchange and the Shanghai Stock Exchange on Nov. 5 in what would be the world’s biggest initial public offering since Saudi Aramco’s $29.4 billion IPO last December, per Reuters. The financial technology company founded by Alibaba founder Jack Ma is planning to raise up to $34.4 billion with the sale of 1.67 billion shares in Shanghai and 1.67 billion shares in Hong Kong, with the latter leg expected to raise about $17.24 billion, reports the Wall Street Journal. The company plans to sell the same number of shares in the Shanghai portion of the offering to strategic investors and 80% of the shares in the Hong Kong portion to large mutual funds, reports the South China Morning Post.