China's Ant Financial to invest $100m in Brazilian card processor StoneCo IPO

China's Ant Financial to invest $100m in Brazilian card processor StoneCo IPO

A logo of Ant Financial is displayed at an event of the company in Hong Kong, China November 1, 2016. REUTERS/Bobby Yip

Brazilian card processor StoneCo Ltd said in a securities filing on Monday that Chinese e-commerce giant Alibaba’s payment affiliate Ant Financial has committed to invest $100 million (£77.1 million) in the company’s initial public offering.

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