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Ant Group director sees relaunch of IPO 'before too long'

Primavera's Fred Hu: crackdown will make China tech sector 'more competitive'

"The fundamentals of the company still remain intact," Fred Hu said of Ant Group.    © Reuters

HONG KONG -- It will "not be too long" before Ant Group is able to resume its suspended initial public offering, according a member of the Chinese financial technology group's board of directors.

The operator of the Alipay mobile payment service and Alibaba Group Holding sister company was poised to raise $35 billion in the world's largest-ever IPO last November before Chinese regulators intervened shortly before share trading was set to start in Hong Kong and Shanghai.

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