Ant Financial is set to raise around $5bn in a funding round expected to value the Alibaba payments affiliate at more than $100bn, according to people familiar with the matter. The move sets an early marker for its keenly anticipated initial public offering.
The boosted valuation is also handy for Alibaba, which last month announced plans to swap its current profit-sharing arrangement for a 33 per cent stake in Ant, setting the ball in motion to list the group.
The latest funding round may be launched as soon as this month, say people close to the process.
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