Credit Suisse investment in Ant seems ready to pay off big
Swiss bank put nearly $100m in Jack Ma’s internet company which is preparing to go public
Hong Kong — Credit Suisse Group invested nearly $100m in Ant Group during its last funding round, according to people familiar with the matter, setting the Swiss bank up for a potential windfall as the Chinese internet company prepares to go public.
The Zurich-based lender, a frequent adviser on deals across Jack Ma’s empire, made the equity investment during Ant’s 2018 fundraising, which valued the company at $150bn. Credit Suisse stands to make paper gains on the previously undisclosed investment if the offering gets a strong reception. One estimate from Bernstein projected Ant’s valuation at $210bn, meaning a 40% increase from the earlier investment level...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.