Alibaba's Ant Financial Seeks Funds for Planned IPO
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Alibaba's financial arm, Ant Financial, has announced its looking for a second round of backing for its planned initial public offering.

Ant Financial is reportedly trying to generate commitments of some 1.5 billion U.S. dollars.

It comes just months after Ant Financial's first major private placement was completed in July.

The first round of funding is estimated at around 4 billion U.S. dollars.

Ant Financial has not revealed a timeline for its planned IPO.

Ant Financial is among several financial technology companies tapping investors for pre-IPO financing to fund their expansion.

Online lender Lufax is also looking for investors ahead of its planned IPO in Hong Kong, which some suggest could be worth some 5 billion U.S. dollars.

Author： 　　　Source：xinhua　　　 Editor：Yang Fan