Ant Group Co Ltd set terms for its dual listing Monday, aiming to raise up to $34.4 billion in the world’s largest-ever market debut. Simpson Thacher & Bartlett and Fangda Partners are advising on the record-breaking initial public offering, capitalizing on longstanding ties that reach into the company’s upper legal ranks.
Leiming Chen, Ant’s senior vice president and former general counsel, was until 2016 a partner at Simpson Thacher and head of the law firm’s China practice. Ant’s current general counsel, Zhifeng Zhou, joined the company in June after more than 25 years at Chinese law firm Fangda, of which he is a founder.
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