Ant Group is set to officially enter the Hong Kong and Shanghai stock exchanges next week, according to filings released on Tuesday morning.
The company, the owner of Alipay, has priced its shares at HK$80 and 68.8 yuan apiece, respectively, for the Hong Kong and Shanghai stock exchanges.
Based on these share prices, Ant Group is seeking to raise about $17.2 billion in each city, according to the Wall Street Journal. $34.4 billion would reportedly make it the biggest IPO to date.
The company kicked off its IPO proceedings in July, saying at the time that a concurrent listing in Shanghai and Hong Kong would help the company push domestic demand and facilitate the company’s expansion in global markets alongside its partners.
The company added the dual listing would further enable it to build out the infrastructure needed to support digital transformation efforts in China’s service industry.