Ant International raises US$1 billion to revive Ant Group's Hong Kong IPO

Ant International, a subsidiary of Ant Group backed by Alibaba (9988), is considering a funding round to raise approximately US$1 billion (HK$7.8 billion), which could facilitate Ant Group's future public listing in Hong Kong, Bloomberg reported.

Prospective investors include existing shareholders General Atlantic and Silver Lake, the report said, adding that the funding round could value Ant International at US$10 billion.

The report said that Ant International's revenue in 2024 reached US$3 billion, while revenue last year grew 25 percent. Its operations span 220 markets so far and support more than 300 payment methods.

Due to increased research and development spending and regulatory hurdles, Ant Group was valued at approximately US$79 billion in 2023 – a sharp drop from the US$280 billion valuation at the time it halted its listing in 2020.
 

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