Alibaba's financial services spinoff is reportedly lining up an offering this year that would also represent an exit for China Life and China Post.
Ant Financial, the financial services affiliate of China-based e-commerce group Alibaba, intends to seek a valuation of more than $200bn in an initial public offering in Hong Kong, Reuters reported today.
The company has been working with advisers for months on the offering and it could take place as soon as this year, according to two sources with knowledge of the matter, one of whom told Reuters it is considering selling a 5% to 10% share through the IPO.
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