Ant Group Denies Imminent IPO Restart Despite Recent Speculation

Ant Group, the fintech affiliate of Alibaba, has poured cold water on speculation that it is preparing to relaunch its initial public offering (IPO), according to a statement released Thursday on its Weibo account. The company said it "currently has no plans to go public, and there are no plans for a so-called 'back-door listing.'"

This comes after recent speculation intensified following a rare public speech by Ant founder Jack Ma, and the appointment of a new CEO. Ma's address at Alipay's 20th anniversary in Hangzhou, China, saw him express confidence in "Ant's next 20 years" and predict "more miracles." These remarks, widely reported across Chinese media, fueled discussions of a potential IPO.

Ant Group's Hong Kong and Shanghai IPO was abruptly canceled in November 2020 just two days before its scheduled debut, amid intense regulatory scrutiny. The unexpected cancellation sent shockwaves through the market and left investors wondering when, if ever, Ant Group would return to the public markets.

In its statement, Ant Group clarified that recent reports claiming an imminent back-door listing were false, and it requested internet users to be wary of such "stock recommendation scams."

Ant Group's Alipay is a dominant mobile payments platform in China, and its potential return to the public markets continues to be a subject of great interest for investors. However, the company's clear denial of immediate IPO plans suggests that the path to a public listing remains uncertain.