Alibaba’s Finance Arm Said to Seek at Least $1.5 Billion

  • Second round of fundraising comes ahead of planned IPO
  • Some money could be used for acquisitions, person says

Alibaba Group Holding Ltd.’s finance affiliate is seeking at least 10 billion yuan ($1.5 billion) in a second round of fundraising ahead of a planned initial public offering, a person familiar with the matter said.

Zhejiang Ant Small & Micro Financial Services Group Co., controlled by Alibaba’s billionaire chairman Jack Ma, plans to issue stock to existing and new investors, according to the person, who asked not to be identified as the details are private. The firm, known as Ant Financial, is speaking to potential investors including insurers and other financial institutions, as well as private equity funds and venture capital firms, the person said…

Alibaba’s Finance Arm Said to Seek at Least $1.5 Billion


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