Finance News

The Ant Group receives approval from the Hong Kong Inventory Trade, clearing the final main hurdle for its large IPO

The Ant Group Co. logo and Alibaba Group Holding Ltd. logo will be displayed behind a reception desk at the company's headquarters in Hangzhou, China on Monday, September 28, 2020.

Qilai Shen | Bloomberg | Getty Images

GUANGZHOU, China – Ant Group has received approval from the Hong Kong Stock Exchange for its highly anticipated initial public offering (IPO), clearing the final major regulatory hurdle prior to listing, CNBC has confirmed.

The Chinese tech giant passed an exchange hearing on Monday, said a person familiar with the matter. Reuters reported the news first.

Now Ant Group must file a registration with Chinese regulators before proceeding with a roadshow and eventual IPO pricing. The person who preferred to remain anonymous as they are not allowed to speak publicly added.

The Ant Group declined to comment when contacted by CNBC. The Hong Kong Stock Exchange was not immediately available for comment.

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