Giant Alibaba owns 33% of Ant, which operates AliPay, one of the two dominant mobile payment apps in China.

The company has clear plans for a relaunch, but an expected listing on the Hong Kong stock exchange won't happen anytime soon, yet an initial public offering is being discussed.

Alibaba has yet to receive approval to list on the Hong Kong exchange from the China Banking and Insurance Regulatory Commission to expand its consumer finance business.

The reason why some have started to take notice of this IPO is the announcement from the company's CIO, who told investors that investors are likely to focus on Ant's IPO.

We seem to be seeing progress towards better times in China, as there could be a resumption of relationships or goodwill for Alibaba, which has its origins in the government and its regulators' efforts to secure the necessary supply because of China's domestic consumption in 2023.

Performance of Alibaba Group Holdings Ltd ADR during last 5 years. (Source: Investing)