Ant Digital Technologies is preparing a financing round ahead of its initial public offering, according to Chinese financial news outlet STAR Market Daily, marking the latest strategic move from one of the units that it spun off. Details regarding the round’s valuation, target size, timeline or planned listing venue were not disclosed. The company declined to comment on Thursday.
The pre-IPO push follows a series of capital moves across all three entities.
Meanwhile, database developer OceanBase was seeking its first external equity financing, according to multiple Chinese media reports this week. In response, OceanBase said it was focused on data technology and product innovation in the era of artificial intelligence, adding that it would continue to engage openly with capital markets.
These moves show how the three entities are building separate capital structures, allowing them to raise funds independently following Ant Group’s aborted listing in 2020.
In March 2024, Ant said Ant International, OceanBase and Ant Digital Technologies would each establish their own boards and operate independently. The three companies also introduced separate employee share-option programmes designed to better suit their start-up-like status, while Ant Group remained their holding company.