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.Ant declined to comment on its fundraising plans. All the people spoke to Reuters on the condition they not be identified due to the sensitivity of the issue.While no timetable for an IPO has been set, nor any location yet chosen, Ant’s plans are being viewed as a pre-IPO fundraising, the people said. A pre-IPO round is an increasingly common move by sought-after Chinese companies to establish valuations and widen their investor base… Read full this story
- Instagram's $100 billion valuation pushes Facebook's dominance of social media to new heights
- Is it a Trade War Yet? Trump Suggests $100 Billion in Additional China Tariffs
- China threatens to hit back as Trump seeks additional tariffs on $100 billion worth of Chinese goods
- China is unleashing more than $100 billion into its economy
- Futuristic U.S. Columbia Nuclear Sub Fleet Will Cost $100 Billion
- India's top tech firm is worth $100 billion
- Trump Proposes Slapping $100 Billion In New Tariffs On Chinese Goods
- Trump urges tariffs on $100 billion more in Chinese goods, escalating trade-war tension
- Trump Tariffs: Plans Threaten General Motors' $7 Billion South Korean Bailout Package
- Trump set to become $100 Billion Man as U.S. trade gap surges
China’s Ant plans equity fundraising at potential $100 billion valuation – Sources have 322 words, post on www.businessinsider.my at February 9, 2018. This is cached page on Asean Breaking News. If you want remove this page, please contact us.