China Brokers Test Goldman With Best IPO Ranking in Decades (1)

Chinese brokerages are having a bumper year for equity dealmaking, with Ant Group’s multi-billion-dollar initial public offering poised to boost their showing in the global ranking to the best in at least two decades.

China International Capital Corp. is leading the push thanks to a bevy of Chinese deals, an economy that’s shrugging off the pandemic and a liberalization of local capital markets. CICC is set this year to vault above U.S. stalwarts Goldman Sachs Group Inc. and Morgan Stanley once Ant completes what’s set to be a record $34.5 billion IPO in Hong Kong and Shanghai, according ...