Alibaba Group Holding (BABA.NYSE) is planning an initial public offering in mainland China next year or in 2017 for its financial services affiliate Zhejiang Ant Small & Micro Financial Services Group, The Wall Street Journal reported, citing an unnamed person familiar with the matter. Ant Financial, which owns the Alipay online payment service, isn’t owned directly by Alibaba, but is effectively controlled by the e-commerce giant’s executives and is being valued by by a current funding round at tens of billions of dollars, people with knowledge of the situation said earlier.
Categories