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Alibaba-Affiliate Ant Financial Isn’t Itching to Go Public

HONG KONG—Flush with cash, Chinese financial-technology giant Ant Financial Services Group is putting on hold plans for an initial public offering while it steps up investments in everything from startups to artificial intelligence, according to a senior company executive.

Ant, which was founded by billionaire Jack Ma and born out of a spinoff from Alibaba Group Holding Ltd., has quietly grown into one of the world’s most valuable fintech companies. Its biggest asset is Alipay, a mobile-payments platform used on Alibaba’s...


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