Ant Financial, an Alibaba affiliate, is rumored to be looking to raise as much as $3 billion. This move would springboard the online financial firm into what The Information termed “an acquisition spree” that would bolster its global presence.
The “global” in this sense, said the site, would stretch from Texas to India, and the capital raise would come via equity or bond issuance.
The activity is still in the discussion stages, said the site, with a nod toward unnamed sources deemed to be knowledgeable about the matter. As has been widely reported, Ant is readying itself for an initial public offering, and with no timeline or defined listing in the offing, it’s unclear which of these two directions the firm may take.
The company remains among the most visible and biggest online payments firms through Alipay, which has 450 million users. Ant Financial had a valuation of about $60 billion in its latest capital raise.