What Would Ant Financial’s Potential IPO Mean for Alibaba’s Investors?
Alibaba's (NYSE: BABA) fintech affiliate Ant Financial could go public in Hong Kong soon, according to Reuters. The report, which cites two people familiar with the matter, claims Ant will sell 5% to 10% of its shares in the IPO, with a target valuation of over $200 billion.
Ant was previously valued at $150 billion after its last funding round in 2018, making it the world's most valuable start-up. Citing internal documents, Reuters claims Ant generated about 120 billion yuan ($17.1 billion) in revenue and nearly 17 billion yuan ($2.4 billion) in net profit last year.
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Source Fool.com
