Posts

China’s Ant Financial has no timetable for IPO but targets 2 billion users in a decade

China’s Ant Financial has no timetable for IPO but targets 2 billion users in a decade

Alibaba affiliate Ant Financial has no immediate plans to go public, according to a senior executive at the company.

Market-watchers and investors have speculated for years about a potential blockbuster listing for the online financial services giant Ant Financial, which has a reported valuation of around $150 billion.

“We don't have any timetable for an IPO,” Douglas Feagin, president of the international business group at Ant Financial, told CNBC's Deirdre Bosa and Christine Tan on Tuesday.

Feagin's comments were in line with what other company executives, including CEO Eric Jing, have repeatedly said when asked about listing plans.

“We're very much focused on growing our business, and, frankly, there's not a lot holding us back,” Feagin said during an interview at CNBC's East Tech West conference in the Nansha district of Guangzhou, China.

He added that the company is expanding into newer areas, such as providing financial services to small and medium-sized businesses.

LEAVE YOUR COMMENT