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Alibaba payments arm Ant seeks dual listing in China and Hong Kong

Valued at more than $150bn, fintech group bypasses New York

Ant Group is one of the world's most valuable fintech companies.   © Reuters

HONG KONG -- China's Ant Group said on Monday that it will seek an initial public offering in Shanghai and Hong Kong in an eagerly awaited move toward the stock market by one of the world's biggest fintech unicorns.

Ant, the spinoff of Chinese e-commerce conglomerate Alibaba Group Holding, said it would examine a dual listing on China's Nasdaq-style STAR board as well as the Hong Kong Stock Exchange.

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