Ant Financial’s potential investors should mark their calendars for late 2017. That’s the date — could even be later — that Ant Financial is slated to have its IPO.
Ant Financial, the $60 billion online financial extension from Alibaba, says it’s putting growth first by expanding its number of users from the current 450 million, by adding merchants and more customers into the mix.
The business’ is most closely connected to Alipay, China’s largest online payments option, while also offering wealth management services, as well as credit scoring, micro lending and insurance. Alibaba launched Alipay in 2004, and later peeled off on its on accord ten years later. Experts say Ant Financial joins a long list of 700+ companies facing Chinese regulators in order to start the IPO listing process.
According to Reuters, Ant Financial doesn’t have a place or time set exactly, while China Securities Regulatory Commission declined to comment.
Ant Financial recently reshuffled its top leaders, while led to speculation around the IPO, which will likely be listed in China and Hong Kong.
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