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Sources familiar with the matter have revealed that China's central leadership has tentatively approved Jack Ma's Ant Group to resume its initial public offering (IPO) in Shanghai and Hong Kong. Ant Group, which is an affiliate of the prominent Chinese e-commerce giant Alibaba Group Holding Ltd (9988.HK), intends to submit the preliminary prospectus for the IPO as early as next month. The sources, who prefer to remain anonymous due to the sensitive nature of the situation, provided this information.
Tuesday, 5 July, 2022