China’s Ant Financial invests in Brazil’s StoneCo

Chinese e-commerce company, Alibaba’s (BABA.N) payment affiliate Ant Financial has pledged to invest $100 million in Brazilian card processor, StoneCo Ltd initial public offering (IPO). The Brazilian company announced this on Monday in a security filing.

Ant financial is one of the large investors who have shown interest in backing the Brazilian company. StoneCo has seen a large a investment for its initial public offering, that has drawn interest from Warren Buffet’s Berkshire Hathaway Inc (BRKa.N), reports Reuters.

StoneCo drew the attention of investors because of the number of major company who have invested in the company’s IPO.

The high demand has allowed for its pricing, initially planned for Thursday, to be moved up to Wednesday, reports Reuters.

 

Source: Reuters

 

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