Alipay parent Ant Financial began consulting financial services companies on a potential IPO, Financial Times (FT) reported, a move which would see the company revisit plans postponed in 2018.
The company, one of the two dominant mobile payment companies in China, is said to be in talks with both Credit Suisse and China International Capital Corporation over a dual listing in Hong Kong and the mainland.
An IPO of Ant Financial has long been mooted, with rumours throughout 2018 predicting the process would take place that year. However, an FT report at the time reported the flotation had been delayed due to concerns about the company’s profitability and worries it may run into regulatory issues.
Should it take place, the listing is expected to be one of the biggest for a company based in Asia. It previously raised capital through a number of domestic and international funding rounds, with the latest securing $14 billion in June 2018.
In addition to running Alipay, the company offers a range of credit and financial services in its home market, along with a range of related investments in markets outside of China, including India-based mobile wallet company Paytm.Subscribe to our daily newsletter Back