TAIPEI, Taiwan, Feb. 15, 2018 /PRNewswire/ – Evans Chamberlain Asset Management have recently highlighted that Chinese Fintech firm Ant Financial Services Group, an affiliate of Alibaba, plans to raise money in a new round of financing that values the company north of $100 billion.
Key research analysts at Evans Chamberlain Asset Management noted that the round hasn’t closed and fundraising could be a preparation for potential initial public offering (IPO) of the Chinese payments giant, which had been mothballed last year following its last funding round in April 2016.
Head of Corporate Trading, Oliver Kovac at Evans Chamberlain Asset Management commented, “The e-commerce market is growing rapidly in China, with Ant Financial improving its revenue growth due to its mobile applications a $5 billion USD target would be easy.”
Chinese sovereign-wealth funds and private-equity firms, as well as large state-owned banks and insurers are expected to lead the round of $5 billion.
The Hangzhou-based firm, the same hometown as Alibaba, is currently 77 per cent owned by China’s biggest e-commerce operator and the remainder by mainland’s investors. These stakes will drop to 68 per cent under the new structure.