HONG KONG: Ant Group, the fintech arm of Chinese e-commerce giant Alibaba, plans a Hong Kong float as soon as this year and targets a valuation of more than US$200 billion, said two sources with knowledge of the matter.
The company has been working with its advisers on the planned float in recent months, said the sources, who cautioned that details have yet to be finalised and are subject to change. Although valued at about US$150 billion in its last funding round in 2018, small trades in the secondary market late last year gave it an implied valuation of US$200 billion.
However, recent years have seen it emphasise its technology prowess mid increased regulatory scrutiny of financial risk.
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