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Topic

Ant Group

Fidelity halves valuation of Ant Group after Chinese crackdown: WSJ

Fidelity halves valuation of Ant Group after Chinese crackdown: WSJ

Published 03 May, 2021 05:34pm
  • That figure compares to an appraised value of $295 billion as at the end of August. Fidelity was among a small group of global investors that bought into Ant three years ago.
  • Ant's initial public offering was canceled in spectacular fashion last November and Chinese regulators later ordered the enterprise to convert into a financial holding company, denting Ant's appeal in the eyes of investors.
China investigates Ant Group's IPO approval process

China investigates Ant Group's IPO approval process

Published 27 Apr, 2021 08:36pm
  • The central-government investigation, which started early this year, focuses on "regulators who greenlighted the initial public offering, local officials who advocated it and big state firms that stood to gain from it", according to the report.
  • Ma's relationships with these "state stalwarts" are also being examined as part of the investigation, the report said.
China's Ant explores ways for Jack Ma to exit as Beijing piles pressure

China's Ant explores ways for Jack Ma to exit as Beijing piles pressure

Published 17 Apr, 2021 05:37pm
  • The Wall Street Journal previously reported that Ma had offered in a November meeting with regulators to hand over parts of Ant to the Chinese government.
  • Ant denied that a divestment of Ma's stake was ever under consideration. "Divestment of Mr. Ma's stake in Ant Group has never been the subject of discussions with anyone," an Ant spokesman said in a statement.
Ant Group to overhaul business as Beijing clamps down

Ant Group to overhaul business as Beijing clamps down

Published 12 Apr, 2021 06:42pm
  • Apply to set up a financial holding company to ensure its financial-related businesses are fully regulated.
  • 'Jiebei' and 'Huabei', the company's two credit subsidiaries, will be run by its consumer finance company which will be operated in compliance with relevant laws and regulation.
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