Securities watchdog scoffs at Ant Group IPO reports

The China Securities Regulatory Commission has refuted reports that it was reconsidering Ant Group's initial public offering plans.

Media reports had earlier suggested that Beijing is "close to" issuing license that will clear the path for the fintech giant's IPO, which was expected to be one of the biggest listings.

The CSRC said in an official statement late on Thursday that it's not conducting such research activities, but it supports eligible Internet platform businesses to list in overseas markets.

Ant Group, part-owned by Alibaba Group Holding Ltd, said on its WeChat official account late on Thursday that it is focused on steadily moving forward with rectification work under the guidance of regulators, and does not have any plan to launch an IPO.