UL - Wall Street Breakfast: The Biggest Listing Ever

Listen on the go! A daily podcast of Wall Street Breakfast will be available by 8:00 a.m. on Seeking Alpha, iTunes, Stitcher and Spotify. The biggest listing everChina's largest payments company is gearing up for a dual listing in Hong Kong and Shanghai in what could become the world's biggest IPO on record. Ant Financial has already obtained clearance for the mainland portion of the deal from Shanghai's STAR Market (pending approval from the China Securities Regulatory Commission), but secured CSRC approval overnight for the Hong Kong leg (pending approval from the Hong Kong stock exchange). Ant, backed by Chinese e-commerce major Alibaba (BABA), could raise about $35B through the concurrent IPOs - at a valuation of at least $280B - surpassing Saudi Aramco's (ARMCO) $29.4B record set last December. Retail investors offered 20x leverage Company insiders reportedly want Ant Financial to complete its IPO before the U.S. presidential election

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Wall Street Breakfast: The Biggest Listing Ever