02:33 PM EDT, 05/19/2025 (MT Newswires) -- Ant International, the international division of Alibaba Group ( BABA ) -backed Ant Group, generated almost $3 billion in annual revenue in 2024 ahead of its proposed spinoff from the group, Bloomberg reported Monday, citing people familiar with the matter.

Ant Group plans to list its Singapore-based international arm on the Hong Kong stock exchange, Reuters previously reported in early May, citing Chinese media reports.

Bloomberg Intelligence analysts Francis Chan and Sharnie Wong also said in early May that an IPO on the Hong Kong exchange would bring in a valuation of "anywhere between $8 billion to $24 billion" for the division, Bloomberg said in the report.

Ant Group didn't immediately respond to a request for comment from MT Newswires.

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