Alibaba’s $60 billion finance arm seeks growth before IPO: sources

SHANGHAI/HONG KONG (Reuters) – Investors gearing up for the initial public offering of Ant Financial, the $60 billion online finance arm spun off by e-commerce giant Alibaba , will have to wait until at least late 2017 as the business puts growth first, sources say. Sources with knowledge of the plans said Ant Financial, whose anchor business is Alipay, China's largest online payments service, is focusing on expanding its existing 450 million-strong army of daily users, adding merchants and customers. One of the sources said that, as of last month, Ant had yet to contact Chinese regulators to start the lengthy listing process and join a queue of more than 700 companies waiting to list.

Original story here.

This entry was posted in Uncategorized. Bookmark the permalink.

Leave a Reply