Alibaba’s Jack Ma hopes affiliate Ant Financial will list in Hong Kong

Alibaba Executive Chairman Jack Ma REUTERS/Aly Song

Alibaba Group Holding Ltd Executive Chairman Jack Ma “very much hopes” that the e-commerce firm’s affiliate Ant Financial Services Group will list in Hong Kong, a spokeswoman for the online finance company quoted him as saying.

Ma, who is Ant’s controlling shareholder, made the comments at an event in Macau on Monday.

A listing for Ant has been long expected. But the spokeswoman said that the company does not have a timeline or venue set.

The company, which includes online payment service Alipay – its crown jewel – is valued at close to $60 billion, a person familiar with its latest fundraising round said in April.

Ant and Alibaba executives have given mixed signals on a potential venue, mentioning a listing on a mainland stock exchange, going public in Hong Kong, or pursuing a dual-listing domestically and offshore.

Ma’s comments were first reported by Ming Pao, a Hong Kong newspaper.

Also read:

Alibaba- Ant Financial partner to invest $400m in Didi Chuxing

China: Jack Ma-controlled Ant Financial raises fundraising target to $3.1b

Reuters

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.