Ant's dual listing could double cross Wall Street

[HONG KONG] Ant’s dual listing is bad news for Wall Street. A chunk of the US$150 billion fintech giant will be sold on Shanghai’s fledgling Star board, which is proving popular with big issuers and where fees for initial public offerings (IPOs) are as generous as in New York. Hong Kong bankers could be left with a smaller share of the pie. If more issuers follow Ant’s march, Wall Street’s dues are in for a reckoning.

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