This is what Jack Ma’s Ant Group has to do due to revamp
Restructuring will cause company to become a financial holdings company among other things
19 April 2021 - 09:31
Hong Kong — China has imposed a sweeping restructuring plan on Jack Ma’s Ant Group, the fintech conglomerate whose record $37bn IPO was derailed by regulators in November, that will cause the group to become a financial holdings company among other things.
Ant, valued at about $315bn at its IPO pricing, is also exploring options for founder Ma to divest his stake and give up control, as meetings with regulators signalled the move could help draw a line under Beijing’s scrutiny of its business...
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