Evans Chamberlain Asset Management reports Ant Financial's $100 billion valuation ‎

TAIPEI, Taiwan, Feb. 15, 2018 /PRNewswire/ - Evans Chamberlain Asset Management have recently highlighted that Chinese Fintech firm Ant Financial Services Group, an affiliate of Alibaba, plans to raise money in a new round of financing that ‎values the company north of $100 billion.

Key research analysts at Evans Chamberlain Asset Management noted that the round hasn't closed and fundraising could be a preparation for potential initial public ‎offering (IPO) of the Chinese payments giant, which had been ‎mothballed last year following its last funding round in April 2016.‎

Head of Corporate Trading, Oliver Kovac at Evans Chamberlain Asset Management commented, "The e-commerce market is growing rapidly in China, with Ant Financial improving its revenue growth due to its mobile applications a $5 billion USD target would be easy."

Chinese sovereign-wealth funds and private-equity firms, as well as large state-‎owned banks and insurers are expected to lead the round of $5 billion.

The Hangzhou-based firm, ‎the same hometown as Alibaba, is currently 77 per cent owned by China's biggest e-commerce ‎operator and the remainder by mainland's investors. These stakes will drop to 68 per cent ‎ under the new structure.

Evans Chamberlain Asset Management said that Ant Financial was valued at $74.5 billion two years ago when it secured ‎‎$4.5 billion in its last fundraising round back in ‎‎2016‎.

Once dominant in ‎China, Ant Financial has had a string of recent setbacks, with its market share declining ‎to nearly 50 percent in 2017 amid the rise of rival providers such as ‎WeChat platform.‎

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SOURCE Evans Chamberlain Asset Management