Ant ‘to raise $5b’

Global Times - - Bizoverview -

Ant Fi­nan­cial Ser­vices Group, the fi­nan­cial arm of tech­nol­ogy com­pany Alibaba Group, is plan­ning to raise up to $5 bil­lion in its lat­est se­ries of fundrais­ing, the Wall Street Jour­nal re­ported on Tues­day, cit­ing sources close to the mat­ter.

The fundrais­ing is likely to be car­ried out in one or two months, and it could put the com­pany’s val­u­a­tion at $100 bil­lion, said the re­port. The fundrais­ing also set “an early marker” for its IPO, the Fi­nan­cial Times re­ported.

The re­port also quoted anony­mous bankers as say­ing that Ant is look­ing for a dual list­ing, with an IPO in ei­ther New York or Hong Kong as well as an­other of­fer­ing in Shang­hai.

In 2017, Ant’s profit surged 360 per­cent to $1.96 bil­lion.

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