⁍ Ant Group will close its Hong Kong institutional book building a day earlier than planned.

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⁍ It aims to raise about $17.2 billion in the city.

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

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– China’s Alibaba Group is planning to go public in both Shanghai and Hong Kong this year, in what would be the world’s biggest-ever initial public offering, the AP reports. Ant Group—an affiliate of Alibaba that runs China’s biggest mobile payment platform, Alipay—is planning to sell about $17.2 billion worth of shares in Hong Kong, and the Wall Street Journal reports that demand has been so high that Ant’s IPO book was oversubscribed within an hour of its launch on Monday. The company plans to sell 41.76 million shares in Hong Kong and 167.1 million shares in Shanghai, with the proceeds used for general corporate purposes.