Alibaba's Ant Financial seeks more pre-IPO funding

The size of Ant's latest fund raising and the speed in which it is returning to market suggests an acquisition may be in the offing, say sources.

Ant Financial, Alibaba’s financial affiliate, is seeking to raise capital for the second time in six months ahead of its planned initial public offering, the company said on Monday.

Hangzhou-based spokeswoman Miranda Shek declined to specify the renminbi amount being targeted or to provide an updated company valuation but said the second round of pre-IPO funding would see shares issued to both existing and new investors.

Bloomberg earlier in the day reported that Ant Financial wanted to raise another Rmb10 billion $1.5 billion at least.

Ant Financial, formerly known as Zhejiang Ant Small Micro Financial, completed an initial...

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