(Yicai Global) May 17 -- Ant Financial Services Group yesterday declined to comment on speculation its initial public offering will be delayed until the end of next year, saying it does not have an IPO schedule, China News Service reported.
The offering has been pushed back to the end of 2018 because of the need to obtain regulatory approval and focus on building the business, UK-based Financial Times quoted a banker as saying yesterday.
"Ant Financial is set to go public," confirmed Jack Ma, chairman of Alibaba Group Holding Ltd. [NYSE:BABA] and Ant's owner. "Media reports said we'll list in Hong Kong, but we actually don't have an IPO timetable and haven't decided on a location yet."
"However, one thing is for sure. Wherever we list needs to be a country that supports world, economic, financial and innovative development," he added.
Ant completed B-round financing in April 2016 to take its value to USD60 billion.