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Jack Ma reportedly gave up control of Ant People familiar with the matter: has been considering giving up control

2022-07-28T11:37:56.584Z


According to The Wall Street Journal, citing people familiar with the matter, Jack Ma plans to give up control of Ant Group. People familiar with the matter pointed out that Jack Ma has considered giving up control of Ant for years. did not relinquish control before, because


According to The Wall Street Journal, citing people familiar with the matter, Jack Ma plans to give up control of Ant Group.

People familiar with the matter pointed out that Jack Ma has considered giving up control of Ant for years.

It did not give up control before because it did not want to delay Ant Financial's listing plan.

People familiar with the matter pointed out that Jack Ma has considered giving up control of Ant for years.

It did not give up control before because it did not want to delay Ant Financial's listing plan.

According to the Ant Prospectus that year, Jack Ma held 34% of Hangzhou Yunbo, and he himself had control over Hangzhou Yunbo.

Hangzhou Yunbo is the general partner and executive partner of Hangzhou Junhan and Hangzhou Junao.

Hangzhou Junhan and Hangzhou Junao jointly hold 50.5177% of Ant.

Ant originally planned to be listed in November 2020

In the early years, it was also reported that Jack Ma was asked to withdraw from his shareholding.

In April last year, Reuters reported that sources familiar with the thinking of mainland regulators and two people connected to Ant revealed that officials from the People’s Bank of China and the China Banking and Insurance Regulatory Commission interviewed Jack Ma and CBIRC in January and March last year, respectively. Ant Group, discussing the possibility of letting Jack Ma withdraw from his shareholding.

The source also pointed out that Ant is studying a plan for Jack Ma to sell his stake and hand over control.

Ant issued a statement denying consideration of Jack Ma's withdrawal, noting that it had never discussed it with anyone.

Ant, a subsidiary of Alibaba (9988), originally planned to go public in November 2020, but the plan was subsequently suspended and faced a year-long supervision and rectification plan, including the establishment of a consumer finance holding company to undertake small loans of up to one trillion yuan The loan business "borrowing" and "huabei".

The brokerage Daiwa Capital pointed out earlier that it believes that the rectification of Ant Group is coming to an end, and there are still two final steps before full compliance, namely the capital base of consumer finance and the license of the financial holding company.

Recently, the group has again reported the news of restarting the IPO. Another "good" news includes the appointment of Shi Meilun, the chairman of the Hong Kong Stock Exchange (0388), known as the "Iron Lady" in the financial industry, as an independent director in June.

Source: hk1

All news articles on 2022-07-28

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