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

Investors and analysts have been expecting Ant to go public sometime in 2018. The Hangzhou-based company last raised $4.5 billion from private investors in April 2016 in a deal that gave it a $60 billion valuation--and its business has since expanded significantly. An IPO "is not a necessity or a priority" right now, said Douglas Feagin, Ant's president of international business, in an interview with The Wall Street Journal in Hong Kong. Mr. Feagin, an American who was a Goldman Sachs Group Inc. investment banker for more than two decades, said he can appreciate the benefits of going public but Ant has other, more pressing, plans to implement. Among Ant's pursuits: expanding Alipay's global footprint within and beyond the 70 countries the payments system is used in, while plumbing for new technology investments globally in things like facial-recognition and machine-learning systems.