Ant Financial, the financial division of Chinese tech giant Alibaba Group, would look to raise capital through an initial public offering (IPO) 'someday,' Alibaba's founder and executive chairman Jack Ma said on Tuesday.

"For IPO, for where, how and when, we haven't figured it out yet. But I know someday, we will be going for it," Ma said, confirming media reports about Ant Financial's plan to go for an IPO, the South China Morning Post reported.

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Ma added that the IPO's primary aim would not only be to raise money, but to share the company's prosperity, success, and encourage more people in their efforts to improve inclusive financing.

Last month, several media reports claimed that Ant Financial is planning to go for an IPO on the Hong Kong Stock Exchange in the first half of 2017. However, there has been no information about the size of the IPO.

Media reports claim that the company was initially mulling a dual listing on the Shanghai Stock Exchange and the Hong Kong Stock Exchange. However, regulatory hurdles reportedly forced the company to settle for an IPO on the Hong Kong Stock Exchange.

Ant Financial operates Alipay, China's largest online payment service company. Alipay is the most dominant player in China's nascent online financial market, boasting of almost 500 million users across the country.

After the IPO, Alipay is expected to get a huge capital injection to boost its presence in international markets. The company is already on an overdrive to increase its presence in many of the emerging markets like India, Singapore, and Thailand.

"We have been moving very aggressively into the other part of the world, this is not because we need more money, but we think that inclusive financing should become a theme in the 21st century," Ma said.

TagsJack Ma, Ant Financial, Alipay, china