(Yicai Global) Aug. 25 -- A recent market rumor claimed that Ant Financial had a plan to list in Shanghai or Hong Kong, which lead to bullish views on related stocks in the market. However, Ant Financial, the financial affiliate of China's biggest online retailer Alibaba Group Holdings Ltd. [NYSE:BABA], denied the rumored listing plan yesterday.
Alipay, the best-known business arm of Ant Financial, is used to such rumors and made light of them on its official WeChat account, posting that "A listing rumor comes every two or three months."
It is said that Ant Financial was pursuing being listed on the Shanghai Stock Exchange. The market expectation was that Ant Financial would launch China's largest initial public offering since 2010, and it would grow into a conglomerate with a market value of USD100 billion, becoming another version of Alibaba.
Stocks of shareholders in Ant Financial were enthusiastically pursued when the news broke. These shareholders included Joincare Pharmaceutical Industry Group Co., Ltd.[SH:600380], Hefei Urban Construction Development Co. Ltd. [SZ:002208], and Macrolink Culturaltainment Development Co., Ltd. [SZ:000620].
Ant Financial has been circumspect about confirming any rumors regarding their plan to list. Last October, in answer to a similar rumor, president Eric Jing said the company was neither considering financing nor set a schedule.