On May 19, according to Bloomberg, people familiar with the matter said,Ant International, the international business arm of Ant Group, will generate revenue of nearly US$3 billion in 2024. The unit established its own board of directors last year, laying the groundwork for its spin-off and listing.
People familiar with the matter said that Ant International was registered in Singapore.Achieved adjusted profit for two consecutive years. It's unclear how the company calculates its adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA), although the metric typically excludes non-recurring costs, restructuring charges and other items.
According to Alibaba's financial report data, Ant Group's full-year profit in 2024 will be 38.3 billion yuan (approximately US$5.3 billion), a year-on-year increase of 61%. Ant International focuses on three core products: Alipay+, Antom and WorldFirst, covering cross-border payment services such as C-side payment, B-side acquiring, and B2B payment and redemption.
According to a report by Caixin earlier this month,Ant Group plans to list its overseas unit Ant International separately in Hong Kong and is communicating with regulatory authorities.
As of press time, Ant Group has not commented on this.