CNBC: Goldman Sachs joins syndicate for Ant IPO of up to $30 billion – sources

CNBC reports:

Goldman Sachs has joined the growing list of investment banks working on Chinese financial technology firm Ant Group’s mammoth initial public offering of up to $30 billion, two people with direct knowledge of the matter said.

Ant, backed by Chinese e-commerce giant Alibaba Group, plans to list simultaneously in Hong Kong and Shanghai, in what sources have said could be the world’s largest IPO and come as soon as October. 

Wall Street major Goldman Sachs has been hired as a joint lead manager on the Hong Kong leg of the IPO, said the people, who declined to be named as they were not authorized to speak to the media on this subject.

A spokesman for Goldman Sachs, which also acted as a joint lead manager on Alibaba’s $12.9 billion secondary listing in Hong Kong last year, declined to comment. Ant also declined to comment.

To read the full story, please click here.

A matter of priority?

Now read this: “IPOs, what IPOs? Pepping for JD Logistics’ multi-billion benchmark deal“.