HONG KONG (REUTERS) – Ant Group will close its Hong Kong institutional book building one day early as it aims to raise about US$17.2 billion (S$23.4 billion) in the city, according to two sources with direct knowledge of the matter.

The book was due to close on Thursday (Oct 29), but that deadline will be accelerated to Wednesday at 5pm in each region.

The order book was oversubscribed one hour after the launch on Monday, two people with direct knowledge of the matter said.

Ant Group declined to comment on the early closure.

The sources asked not be identified as they were not authorised to comment to media.

The Chinese fintech giant is looking to raise up to US$34.4 billion in a dual listing in Hong Kong and Shanghai that will rank as the biggest initial public offering (IPO) ever.