, plans to list simultaneously in Hong Kong and on Shanghai's Nasdaq-style STAR Market and raise as much as $30 billion, Reuters has reported.raised $29.4 billion last December, which surpassed the record set by Alibaba in 2014.The potential investments by two of the world’s biggest state investors underscore that Ant’s mammoth IPO is gaining traction. Temasek and GIC also participated in Ant’s $14 billion funding round in 2018.
Temasek is mulling investing in both the onshore and offshore legs of the dual listing, which could come as soon as October, said the second source. Temasek’s portfolio exposure to China, as measured by underlying assets, increased to a record 29% in the year ending March, from 26% a year earlier, while exposure to Singapore fell to 24% from 26%.