trending Market Intelligence /marketintelligence/en/news-insights/trending/vDR0mft1lQuQOXJ8V32Frw2 content esgSubNav
In This List

Ant Financial raises US$4.5B via private placement

Podcast

Street Talk | Episode 98: Regulatory scrutiny having cooling effect on community bank M&A

Blog

Insight Weekly: M&A outlook; US community bank margins; green hydrogen players' EU expansion

Podcast

Street Talk | Episode 97: Recessionary fears still keeping bank investors on the sidelines

Blog

Making sanctions effective: Key themes for banks


Ant Financial raises US$4.5B via private placement

Alibaba Group HoldingLtd.'s financial services affiliate, Ant Financial Services Group, raisedUS$4.5 billion via a private placement, Agence France-Presse reported April 26,citing a statement from the company.

The investors included a unit of China's sovereign wealth fundand a subsidiary of China ConstructionBank, the statement said.

Proceeds from the issue will be used for global expansion andto boost the company's services to China's rural areas, said Eric Jing, presidentof Ant Financial.

The latest round of funding valued Ant Financial at roughly US$60billion, up from a previous valuation of around US$45 billion in the company's firstoutside fundraising in 2015, The Wall StreetJournal separately reported the same day.

Earlier in April, Bloomberg News reported, citing sources, that the firm was targeting a privatefundraising for at least US$3.5 billion at a valuation of approximately US$60 billion.