Ant Financial Rumored To Seek $10B Hong Kong IPO In 2017

Ant Financial Services Group, a financial services firm affiliated with Alibaba Group Holdings Ltd., is reportedly planning an initial public offering in Hong Kong next year to raise at least US$10 billion.

The online payment and financial services firm is in talks with investment banks including Goldman Sachs, J.P. Morgan, Morgan Stanley, Deutsche Bank, Credit Suisse and unnamed Chinese investment banks, targeting an IPO during the first half of 2017.

Ant Financial denied the media reports and said the company has not decided on where it will list.

In April, Ant Financial raised US$4.5 billion in a series B financing at a valuation of around US$60 billion led by CIC International, the Chinese sovereign wealth fund's international investment arm, and a unit of China Construction Bank.

Other early backers of Ant Financial inclu...

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