Ant Group says no plan to initiate IPO, contradicting report

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Ant Group has no plan to initiate an initial public offering, it said on Thursday on its Wechat account.

“Under the guidance of regulators, we are focused on steadily moving forward with our rectification work and do not have any plan to initiate an IPO,” Jack Ma’s Ant Group said in a brief statement.

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Bloomberg News reported on Thursday, citing people familiar with the matter that the Chinese financial regulators have started early stage talks on a potential revival of Ant Group’s IPO.

The report also said the China Securities Regulatory Commission(CSRC) has established a team to reassess the share sale plans of the fintech giant controlled by billionaire Ma.

Read more: Jack Ma’s fortune jumps $2 billion after record Alibaba fine

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