Goldman Sachs has joined the growing list of investment banks working on Chinese financial technology firm Ant Group’s initial public offering of up to $30 billion, as a joint lead manager on the Hong Kong leg, two people with direct knowledge of the matter said.
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Ant, backed by Chinese e-commerce giant Alibaba Group, plans to do a simultaneous listing in Hong Kong and Shanghai, in what sources have said could be the world’s largest IPO and come as soon as October.
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A spokesman for Goldman Sachs declined to comment on the appointment. Ant also declined to comment.
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(Reporting by Julie Zhu, Kane Wu and Scott Murdoch in Hong Kong; Editing by Sumeet Chatterjee and William Mallard)