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Alibaba's Online Payment Firm Ant Financial Eyes 2017 Ipo: State Media

Ron Burgundy

By Ron Burgundy,
in Tech News

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Ron Burgundy

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Sales assistant sits behind and under Alipay logos at a train station in ShanghaiAnt Financial Services Group, Alibaba's affiliate which runs online payment platform Alipay, is seeking to raise up to $4 billion in a private placement of shares and is looking at a domestic IPO in 2017, the state-run Shanghai Securities News reported. Alipay, China's most widely used online payment platform, is seen as a crucial part of Alibaba Group Holding Ltd's business, which ranges from e-commerce to entertainment. It added that the firm had selected China International Capital Corp (CICC) as its financial advisor, citing documents from private equity firm CDH Investments.




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