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Ant Group Changes

Benzinga

135 Views • Jan 10, 2023

Description

Ant Group Founder Jack Ma is giving up control of the Chinese fintech company. Ma, who founded the e-commerce company Alibaba ($BABA@China), directly and indirectly, controls more than 50 percent of Ant Group. Following the changes in the company structure, he will control just 6 percent, and the shareholding structure will also change. In November 2020, Ant’s $30 million stock market flotation, which would have been the world's largest, was canceled at the last minute after Chinese authorities cited “major issues” over regulating the firm.

Keywords & Tags

#stock market #alibaba #baba #e-commerce #china #Jack Ma #government #Chinese authorities #Ant Group #fintech #tech #Jack Ma to Give Up Control of Ant Group #Chinese fintech #regulating the firm #regulations #mobile payment platform #Alipay

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