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REUTERS reports:

Singapore state investor Temasek Holdings is considering an investment in the initial public offering (IPO) of Chinese financial technology company Ant Group, which could be the world’s biggest IPO, two people familiar with the matter said.

Singapore sovereign wealth fund GIC Pte Ltd is also considering investing in the IPO, said one of the people.

Temasek, GIC and Ant declined to comment.

Ant, backed by Alibaba Group Holding BABA.N9988.HK, plans to list simultaneously in Hong Kong and on Shanghai’s Nasdaq-style STAR Market and raise as much as $30 billion, Reuters has reported.

That would make it the world’s biggest IPO since Saudi Aramco 2222.SE raised $29.4 billion last December, which surpassed the record set by Alibaba in 2014.

Temasek and GIC are the first major Asian investors to be linked to Ant’s IPO.

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