Alibaba affiliate Ant Financial is offering shares in private, valuing the company at $200 billion (about HK$1.56 trillion), further boosting its ranking among the most valuable non-listed companies,media reported, citing sources. Ant Financial’s advisory team recently approached potential buyers about the share sale to seek to build a shareholder base before the listing, the sources said.
At the end of last year, a small number of Ant Financial’s shares were traded on the secondary market, valuing the company at $200bn, the sources said. Ant Financial has an implied valuation of $150 billion in a 2018 capital raising.
Ant Financial is preparing to push ahead with plans to eventually list in Hong Kong and mainland China, the sources said. At a recent meeting with the China Securities Regulatory Commission, Ant Financial discussed the possibility of an IPO and other issues. But the source also said any IPO plans remain highly uncertain.
Other sources said some executives, who hold shares in Ant Financial through a limited partner mechanism controlled by Alibaba founder Jack Ma, are selling some of their stakes.