WASHINGTON—A financial affiliate of Chinese e-commerce giant Alibaba is set to go public, and a sizeable portion of the funds raised are to come from U.S. investors, raising alarms in Washington.
Chinese financial technology firm Ant Group Co. is preparing for an initial public offering in Shanghai and Hong Kong next month. Controlled by billionaire Jack Ma, founder of Alibaba, the fintech company aims for an approximately $225 billion valuation through the public offering.
