Ant International Plans $1 Billion Fundraising to Pave Way for Hong Kong IPO, Valuation May Exceed $10 Billion
N.R. Finch
Ant International is seeking roughly $1 billion in funding at a valuation of $10 billion or above, a deal that — if closed — would lay the groundwork for a Hong Kong listing as early as this year, marking the clearest signal yet of Ant's return to public markets since its 2020 IPO was blocked.
What is this fundraise really about?
Ant International, the overseas arm of Ant Group, is considering raising about $1 billion at a target valuation of $10 billion or more.
The company has sounded out existing shareholders General Atlantic and Silver Lake; talks are ongoing with no final decision yet.
This means → the raise is not just about cash — it is about setting a pricing anchor for the IPO. A primary-market valuation gives Ant a "price signal" to carry into its exchange filing.
Why does this signal Ant's return to public markets?
In 2020, Ant Group was preparing what could have been the world's largest IPO before Chinese regulators halted it. After a restructuring, Ant International set up an independent board in 2024.
Sources say a successful raise would pave the way for a Hong Kong listing as early as this year.
In plain terms = the independent board was the "clean break"; this fundraise is the "re-queue." Ant spent four years turning a blocked listing into a new entity that can start the process fresh.
How big is Ant International's business?
2024 revenue hit $3 billion; 2025 revenue is growing at roughly 25% year-on-year.
The company supports over 300 payment methods across more than 220 markets, through four units: Alipay+ (cross-border payments), Antom (merchant acquiring), Bettr (digital lending), and WorldFirst (FX management).
In March it won regulatory approval to acquire Hong Kong's Bright Smart Securities, extending online brokerage services beyond mainland China.
This means → Ant International is not a "mini Alipay." It is a multi-product, multi-market overseas network, and the brokerage license pushes it one step further from "payment tool" toward "financial platform."
A $10 billion valuation — where does that sit vs. Ant Group overall?
Ant Group's total valuation has shrunk from roughly $280 billion at the time of the 2020 IPO block to about $79 billion in 2023, dragged down by rising R&D spend and regulatory-compliance costs.
At $10 billion, Ant International would represent roughly 13% of the parent's overall valuation.
In plain terms = the parent lost about 70% of its peak value, but the carved-out international arm — backed by 25% revenue growth — is carrying an independent story. Investors are not buying "Ant's past"; they are buying "the overseas line is still running."
Content is for reference only, not financial advice.