Alibaba's Ant Financial could be valued at nearly US$50b: WSJ
[LONDON] Chinese e-commerce giant Alibaba Group Holding Ltd's finance arm, Ant Financial Services Group, could be valued at nearly US$50 billion in its current round of funding, the Wall Street Journal reported.
Ant Financial plans to raise up to 20 billion yuan (US$3.07 billion) from new and existing investors in this round, the WSJ reported on Monday, citing people familiar with the situation.
The latest round of funding is expected to be completed by mid-April, the Journal reported.
Alibaba and Ant Financial were not immediately available for comment.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Consumer & Healthcare
Marina Bay Sands Q1 profit surges 51.5% to US$597 million on tourism boom
Swiss watch exports plunge as China and Hong Kong demand dries up
Cutting the cord?: Events leading up to Cordlife’s MOH suspension and arrests of its directors, ex-group CEO
Billionaires selling cheap stuff get richer from inflation pain
Amazon to push cashierless shopping tech into more third-party stores, while backing off itself
Japan’s Uniqlo opens Rome store as part of European expansion