(Yicai Global) Nov. 11 -- Jack Ma, billionaire founder of Alibaba Group Holding Ltd., has confirmed for the first time that affiliate Ant Financial Services Group will seek an initial public offering of shares.
In an interview with state-run broadcaster CCTV, Ma gave no further details about the IPO. Ant Financial runs Alibaba's payments platform Alipay, China's biggest.
Speculation has abounded about when and where the world's second-most valuable private tech company will list. Ant Financial has accomplished a stunning feat by achieving a valuation of USD60 billion after just two rounds of financing. Ride-hailing operator Uber Technologies Inc. is valued at USD62 billion after 14 rounds.