Monday
February 12
2018

China’s Ant plans equity fundraising at potential $100 billion valuation – sources

China’s Ant Financial Services Group is planning to raise up to $5 billion in fresh equity that could value the online payments giant at more than $100 billion, people familiar with the move told Reuters.

A fundraising would bring Ant, in which e-commerce firm Alibaba Group Holding Ltd is taking a one-third stake, a step closer to a hotly anticipated initial public offering by establishing a more current valuation.

Ant’s last fundraising in 2016 valued the owner of Alipay, China’s top online payment platform, at about $60 billion. The new round should start with a valuation of between $80 billion to $100 billion, the people said.

Ant is currently in talks to appoint advisers for the fundraising which is expected to be launched in the next couple of months, they added.

Photo courtesy of Highways England.

Source: Reuters (link opens in a new window)

Categories
Inclusive Fintech
Tags
Alibaba, Alipay, China, digital payments, fintech, mobile money