HONG KONG/BEIJING (Reuters) – Ant Financial at [ANTFIN.UL] the shares are to be offered privately on a level, that is, the value of the Chinese financial giant to $ 200 billion, two people with knowledge of the discussions said, lifting it into the ranks of the most valuable non-publicly listed companies.
FILE PHOTO: people are seen at the reception of Ant Financial Services Group, Alibaba’s financial affiliate, at the company headquarters in Hangzhou, Zhejiang province, China, January 24, 2018. REUTERS/Shu Zhang/Photo File
Alibaba affiliate Ant, which had an implied valuation of over $150 billion in 2018, a fund-raising, prepared-by-step plan to finally go public in Hong Kong and in the mainland of China, the other three sources told Reuters.
Speculation has grown that the Ant is the world’s largest so-called “unicorn”), a newly-formed, non-publicly traded tech company, with a total value of $1 billion or more — and are working on an initial public OFFERING this year.
Its consultants have recently been approached as potential purchasers of the listed shares, the first two of the people said, ” if the Ant is trying to clean up its shareholder base to a comment.
An Ant Financial spokesperson said that the company does not have a plan or a timetable for an initial public offering (IPO).
Small business of the Ans shares to be traded on the secondary market, a $200 billion valuation at the end of last year, another person familiar with the situation said. All of the people, who declined to comment because of the confidentiality of the documents.
Investors, globally, have been the critical acclaim for “unicorns” are more closely after last year’s collapse in the value of the once-hyped office space provider WeWork.
Some of the Mutant to investors packed their shares in the provision of wealth management products, so you can’t technically still have to keep them all, it might make things more complicated, the approval for an initial public OFFERING.
Some of the officers are from the sale of a number of shares that may be held by a limited partnership arrangements, is controlled by Alibaba’s founder, Jack Ma, is one of the first two of the sources said.
Under the listing rules, for domestic Ipo of the company, its controlling shareholder or the actual controller of the company is subject to a three-year lock-up period.
Hangzhou-based Ant runs Alibaba payment business, Alipay, and provides savings and loan products to Alipay users. Last year, Alibaba turned to his right to 37.5% of the Ant’s earnings before income taxes, for a one-third ownership.
Alibaba says Alipay, and the local e-wallet partners, approximately 1.2 billion of annual active users, of which 900 million are in China.
In the first nine months of the year 2019 at the latest, Ant, paid by Alibaba 4.35 billion yuan ($634 million) in royalties, software costs, regulatory filings show. Based on Alibaba’s profit-sharing arrangements with Ant prior to the swap, the Ant’s earnings before income taxes three months would be about 11.6 billion yuan.
Ant was quiet, and brought them, along with many of the corporate finance team, some of whom had relocated to other positions over the past few years. The movement can be seen as a sign of determination to move forward with the preparations for the float, two of the people close to the company said.
During a recent meeting with the China Securities Regulatory Commission (CSRC), china’s market regulator, Ans talked about the IPO’s prospects, among other things, two people with knowledge of the matter said.
However, plans are still very fluid, and seven sources with knowledge of the process said.
It has, in essence, blocked a quasi-financial companies from going public as part of a broader response to the financial risks involved for the past three years – a rule that also applies to the Minor, according to a source with direct knowledge of the matter.
FILE PHOTO: A worker stands next to a logo of Ant Financial Services Group, Alibaba’s financial affiliate, at the company headquarters in Hangzhou, Zhejiang province, China, January 24, 2018. REUTERS/Shu Zhang/Photo File
The Ant was still no progress has been made in obtaining approval from the CSRC for a public offering (the IPO), the source added.
The CSRC did not respond to a request for comment.
The ant, who has submitted an application for a Singapore digital banking licences, it is the extension of the payment from the companies worldwide, operating and investing in similar businesses in South-east Asia, and Europe.
Reporting by Julie Zhu and Kane Wu in Hong Kong, as well as Zhang Yan in Beijing; Additional reporting by Yingzhi Yang Cheng Ling in Beijing; Editing by Jennifer Hughes and Alexander Smith