Singapore’s Temasek, GIC consider joining Ant Group’s IPO
October 07, 2020
Source: KrASIA
Singapore state investment firm Temasek Holdings and sovereign wealth fund GIC have been in talks to invest in Chinese fintech unicorn Ant Group’s dual listing in Hong Kong and on the Shanghai Exchange’s tech-focused Star market, Reuters reported on Friday, citing sources.
Ant Group, in which Alibaba Group Holding holds a one-third share, could raise as much as USD 30 billion through the IPO, surpassing Saudi Aramco’s USD 29.4 billion listing to become the world’s largest-ever fundraising. Saudi Arabia’s Public Investment Fund (PIF) is also considering investing in Ant’s IPO.