China's Ant Financial Services Group is currently working with banks to revive its plans for its IPO, which was delayed in 2018, the Financial Times reported Jan. 16, citing two people familiar with the matter.
Credit Suisse Group AG is involved in the early stages of preparation to revive the offering, the sources said. China International Capital Corp. Ltd. is also involved in the public float's preparation, one of the people added.
The Alibaba Group Holding Ltd. affiliate is considering a dual listing for its shares in Hong Kong and China, one of the people familiar with the situation said.
In August 2018, Ant Financial reportedly delayed its planned IPO following a loss in the three months ended March 31, 2018, and tighter regulatory scrutiny on nontraditional financial groups in the country. The company was last valued at US$150 billion in a 2018 fundraising round.
A spokesperson for Ant Financial said the company does not have a plan nor a timetable for the listing, while both Credit Suisse and China International Capital declined to comment on the matter, the publication reported.