Ron Burgundy Posted January 4, 2016 Share Posted January 4, 2016 (Reuters) - Ant Financial Services Group, the finance arm of Chinese e-commerce giant Alibaba Group Holding Ltd, said on Monday it is looking to raise funds from investors ahead of a planned initial public offering, the second time in less than six months the company taps investors to finance its growth. The funding round, which Bloomberg reported could reach at least $1.5 billion, comes just months after Ant Financial's first major private placement completed in July. "In terms of the IPO, we do not have a timeline for Ant Financial's IPO." Ant Financial is among a series of financial technology companies tapping investors for pre-IPO financing to fund expansion as Chinese consumers move more of their banking, payments and investing online. View the full article Quote Link to comment Share on other sites More sharing options...
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