Alibaba’s finance arm eyes capital before IPO
Print Edition
Ant Financial Services Group, the finance arm of e-commerce giant Alibaba Group Holding Ltd, said yesterday that it is looking to raise funds from investors ahead of a planned initial public offering, the second time in under six months the company taps investors to finance its growth.
The funding round, which Bloomberg News reported could reach at least US$1.5 billion, comes just months after Ant Financial’s first major private placement completed in July. Chinese media had pegged the previous round at up to US$4 billion, when the company was valued at about US$45 billion.
“We can confirm Ant Financial Services Group has launched Round B financing, however we are not commenting on market speculations,” said spokeswoman Miranda Shek, declining to discuss the funding size.
“In terms of the IPO, we do not have a timeline for Ant Financial’s IPO.”
Ant Financial is among several financial technology companies tapping investors for pre-IPO financing to fund expansion as Chinese consumers move more of their banking, payments and investing online.
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