Alibaba-affiliated financial services giant Ant Group is Philippinesunlikely to refile for an IPO in the short term, according to a report in Chinese state-run media outlet China News Service, which cited sources close to regulators. The news came after Bloomberg reported that the fintech firm was mulling over divesting from some of its non-core business interests in an aim to revive its public listing plan. Ant Group is currently emerging from a lengthy investigation after Chinese authorities fined it nearly $1 billion earlier this month, and the source cited by China News Service said that its planned IPO reboot would have to ensure it was in accordance with China’s laws and regulations. [China News Service, in Chinese]
