Ant Group, which is 33% owned by Alibaba and controlled by billionaire Jack Ma, is seeking to list in Shanghai and Hong Kong in a concurrent IPO.
The China Securities Regulatory Commission has given the green light for the Hong Kong portion, a person familiar with the matter told CNBC. A hearing with the Hong Kong stock exchange, a key part of the approval process, will take place on Monday, the person said.Ant Group's IPO could be one of the biggest of all time. Reuters has previously reported that the company is looking to raise $35 billion.
Ant Group's IPO process has been pushing ahead despite a report that the U.S. is trying to get the company put on a trade blacklist called the Entity List,
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