Chinese regulators probe Ant Group's equity investments
4 years ago

Chinese regulators probe Ant Group's equity investments

The Hindu  

Chinese regulators are reviewing equity investments held by Ant Group Co Ltd in dozens of companies, three people with knowledge of the matter said, intensifying a crackdown on billionaire Jack Ma's financial technology empire. Divestments would also significantly scale back Ant's influence over the country's fast-growing fintech industry,where it has sought synergies with its existing businesses via several investments in recent years. Regulators want Ant, whose businesses include payment processing, consumer lending and insurance products distribution, to divest some of its investments unless they are indispensable to its business, according to one of the sources. Ant has already started to tap prospective buyers including private equity firms for its holdings in more than a dozen of portfolio firms, including domestic bike-sharing start-up Hellobike, another of the sources said.

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History of this topic

China imposes nearly $1 billion fine on Jack Ma's Ant Group: Report
1 year, 6 months ago

China imposes nearly $1 billion fine on Jack Ma's Ant Group: Report

Hindustan Times  

Chinese authorities imposed a fine of nearly USD 1 billion for the financial technology giant Ant Group on Friday, nearly three years after regulators blocked the company's proposal for a record-breaking public offering, which launched a period of intensified government scrutiny of technology firms, The New York Times reported. Following the crackdown on Ant in 2020, its sister company Alibaba, …

China imposes fine of $1 billion on Jack Ma's Ant group
1 year, 6 months ago

China imposes fine of $1 billion on Jack Ma's Ant group

India TV News  

Chinese authorities imposed a fine of nearly $ 1 billion on billionaire Jack Ma's Ant Group on Friday, news agency ANI reported citing media reports. Following the crackdown on Ant in 2020, its sister company Alibaba, received a record antitrust penalty of USD 2.8 billion, while Didi, a ride-hailing company, received a USD 1.2 billion fine. In a statement, Ant …

Ant Group fined $985 million by Chinese regulators in signal that tech crackdown may end
1 year, 6 months ago

Ant Group fined $985 million by Chinese regulators in signal that tech crackdown may end

Associated Press  

HONG KONG — Chinese regulators are fining Ant Group 7.123 billion yuan for violating regulations in its payments and financial services, an indicator that over two years of scrutiny and crackdown on the firm that led it to scrap its planned public listing may have come to an end. The fine comes over two years after regulators pulled the plug …

Jack Ma-backed Ant Group to reduce its stake in Paytm: Report
1 year, 10 months ago

Jack Ma-backed Ant Group to reduce its stake in Paytm: Report

Hindustan Times  

Ant Group Co. is considering selling some of its shares in the operator of Indian financial technology firm Paytm to keep its holding within a required threshold, according to people familiar with the matter. The deliberations follow Ant affiliate Alibaba Group Holding Ltd.’s sale of its stake in Paytm, as the e-commerce giant pared back investments in India amid growing …

China’s Ant Group plans to sell some of its stake in Paytm
1 year, 10 months ago

China’s Ant Group plans to sell some of its stake in Paytm

Live Mint  

Ant Group Co. is considering selling some of its shares in the operator of Indian financial technology firm Paytm to keep its holding within a required threshold, according to people familiar with the matter. The deliberations follow Ant affiliate Alibaba Group Holding Ltd.’s sale of its stake in Paytm, as the e-commerce giant pared back investments in India amid growing …

The Continuing Saga of China’s Ant Group
1 year, 10 months ago

The Continuing Saga of China’s Ant Group

The Diplomat  

Chongqing Ant Consumer Finance, a subsidiary of Alibaba’s spinoff financial arm, Ant Group, recently received regulatory approval to raise $1.5 billion to expand itself into the consumer finance business. According to Reuters, after the CBIRC approved Cinda’s funding plan, China’s State Council questioned the investment in Ant Group without having it restructured as per state demands. First, the billionaire’s controversial …

Explained: How Chinese regulators grounded Jack Ma's ambitions
2 years ago

Explained: How Chinese regulators grounded Jack Ma's ambitions

Firstpost  

A reshuffling of Jack Ma’s shareholding structure will see the Chinese business tycoon cede control of the fintech giant he formed in 2014 Jack Ma, the unconventional billionaire founder of tech giant Alibaba and the totem of China’s entrepreneurial brilliance, has stepped out of the limelight since a Communist Party crackdown that chopped back his empire. Chinese regulators torched the …

Jack Ma, Ant Group founder, to give up control of fintech giant in revamp
2 years ago

Jack Ma, Ant Group founder, to give up control of fintech giant in revamp

The Hindu  

Ant Group's founder Jack Ma will give up control of the Chinese fintech giant in an overhaul that seeks to draw a line under a regulatory crackdown that was triggered soon after its mammoth stock market debut was scuppered two years ago. The Wall Street Journal reported in July last year, citing unnamed sources, that Mr. Ma could cede control …

Chinese regulators approve capital expansion for Ant Group
2 years ago

Chinese regulators approve capital expansion for Ant Group

Associated Press  

HONG KONG — Chinese regulators have said e-commerce giant Alibaba’s finance affiliate Ant Group can raise $1.5 billion for its consumer finance unit in an important step forward after the government called off a planned IPO two years ago and ordered the firm to restructure. The China Banking and Insurance Regulatory Commission in the southwestern city of Chongqing said in …

Chinese Billionaire Jack Ma’s Net Worth Halves In Less Than A Year. Know Why
3 years, 7 months ago

Chinese Billionaire Jack Ma’s Net Worth Halves In Less Than A Year. Know Why

News 18  

Once the richest man in China, Jack Ma’s worth has tanked by half in less than a year. He is also the creator of the world’s largest fintech company Ant Group. How the downfall started Ma’s downfall originated with the cancellation of Ant Group’s $34.5 billion IPO that was scheduled in the second half of the last year. The initial …

Chinese govt pressurises Ant Group to facilitate exit of founder Jack Ma
3 years, 8 months ago

Chinese govt pressurises Ant Group to facilitate exit of founder Jack Ma

Op India  

A month after the Communist regime in China cracked down on the media assets of Alibaba, it has now directed Alibaba’s affiliate company Ant Group to take away control from its founder Jack Ma, reported Reuters. The Chinese regulators have directed the Ant Group to find options to sell Jack Ma’s stake in the company so as to seize control …

China's Ant to become financial holding firm under enforced revamp
3 years, 9 months ago

China's Ant to become financial holding firm under enforced revamp

The Hindu  

China's Ant Group, the fintech giant whose $37 billion IPO was derailed by risk-wary regulators days before it was due to list in November, will restructure as a financial holding company, the country's central bank said on Monday. The overhaul comes two days after e-commerce giant Alibaba Group Holding Ltd, of which Ant is an affiliate, was hit with a …

Chinese regulator orders Ant Group to conduct major overhaul
3 years, 9 months ago

Chinese regulator orders Ant Group to conduct major overhaul

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Chinese regulators have ordered Ant …

Jack Ma’s Ant Group was the next big thing. Now it may become just a boring bank
3 years, 10 months ago

Jack Ma’s Ant Group was the next big thing. Now it may become just a boring bank

CNN  

Hong Kong CNN Business — Jack Ma’s Ant Group quickly became one of China’s most powerful companies, and its plans for bridging the worlds of tech and finance were growing ever more ambitious by the day. The People’s Bank of China last September outlined new measures for financial holding companies that required them to hold “adequate capital” matching the amount …

Is China right to tame Ant?
4 years ago

Is China right to tame Ant?

The Economist  

T HERE ARE both petty and respectable explanations for China’s assault on Ant Group. The fintech giant was less than 48 hours away from the world’s biggest initial public offering when regulators halted it in November—the first in a series of moves aimed at taming the fast-growing firm. The petty is that Jack Ma, Ant’s outspoken founder, had offended Chinese …

China tells Ant Group to quickly overhaul its business
4 years ago

China tells Ant Group to quickly overhaul its business

CNN  

Hong Kong CNN Business — China has ordered the country’sbiggest online payments platform to overhaul large swaths of its operations as regulators continue their efforts torein in some of the most powerful Chinese internet companies. Financial regulators outlined a laundry list of expectations for Ant Group executives in a meeting on Saturday, according to Pan Gongsheng, deputy governor of the …

China orders Ant Group to rectify businesses
4 years ago

China orders Ant Group to rectify businesses

The Hindu  

A view of the signage of Ant Group in the headquarters compound of the fintech giant in Hangzhou in eastern China's Zhejiang Province. File Chinese regulators have ordered Ant Group, the world’s largest financial technology company, to rectify its businesses and comply with regulatory requirements amid increased scrutiny of anti-monopoly practices in the country’s internet sector. The meeting came after …

China orders Ant Group to rectify businesses
4 years ago

China orders Ant Group to rectify businesses

The Hindu  

Chinese regulators have ordered Ant Group, the world’s largest financial technology company, to rectify its businesses and comply with regulatory requirements amid increased scrutiny of anti-monopoly practices in the country’s internet sector. The meeting came after Chinese regulators last month halted Ant’s $37 billion stock debut in Shanghai and Hong Kong over regulatory changes, and comes just days after China …

China’s Ant said to mull sale of Paytm stake amid tensions with India
4 years, 1 month ago

China’s Ant said to mull sale of Paytm stake amid tensions with India

The Hindu  

Chinese fintech giant Ant Group is considering selling its 30% stake in Indian digital payment processor Paytm amid tensions between the two Asian neighbours and a toughening competitive landscape, people with direct knowledge of the matter said. A Paytm spokesman said “there has been no discussion with any of our major shareholders ever, nor any plans, about selling their stake.” …

Ant’s IPO fiasco set to clip its wings and dent its value
4 years, 2 months ago

Ant’s IPO fiasco set to clip its wings and dent its value

Live Mint  

China's surprise suspension of Ant Group's record $37 billion listing is set to delay rather than destroy its chances of a stock market debut though the financial technology giant's valuation and growth prospects are likely to take a hit. Under draft rules published on Monday, online lenders in China would have to stump up more of their own capital for …

Ant Group can’t proceed with IPO until it fixes capital shortfall
4 years, 2 months ago

Ant Group can’t proceed with IPO until it fixes capital shortfall

Al Jazeera  

The fintech giant will have to overhaul some of its business to meet all of China’s new regulations, which took effect on November 1. Chinese regulators have told Ant Group Co. it can’t proceed with an initial public offering until after it complies with new capital requirements and other restrictions imposed on the country’s financial conglomerates at the start of …

China halts Jack Ma’s world’s largest IPO by suspending his Ant Group's listing
4 years, 2 months ago

China halts Jack Ma’s world’s largest IPO by suspending his Ant Group's listing

India TV News  

Jack Ma, founder of China’s e-commerce giant Alibaba suffered a major setback on Tuesday as Shanghai and Hong Kong Stock Exchanges suspended dual listing of the shares of his world's biggest initial public offer of USD 39.7 billion of the group's subsidiary - the Ant Group, 48 hours before the highly-anticipated trading was due to start. The Shanghai Stock Exchange …

China halts Jack Ma’s $37 billion Ant Group IPO in Shangai, Hong Kong
4 years, 2 months ago

China halts Jack Ma’s $37 billion Ant Group IPO in Shangai, Hong Kong

The Hindu  

Ant Group’s $37 billion stock market listing has been suspended in both Shanghai and Hong Kong in a dramatic move just two days before what was set to be the world’s largest-ever stock market debut The Shanghai stock exchange first announced that it had suspended Ant’s initial public offering on its STAR market, prompting Ant to also freeze the Hong …

China regulators summon Ant Group executives ahead of IPO
4 years, 2 months ago

China regulators summon Ant Group executives ahead of IPO

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Chinese regulators summoned Ant Group …

Listing interrupted: China suspends Ant Group’s $37bn IPO
4 years, 2 months ago

Listing interrupted: China suspends Ant Group’s $37bn IPO

Al Jazeera  

Shock suspension of Ant’s blockbuster IPO comes after billionaire founder Jack Ma and top executives met with Chinese financial regulators. China suspended Ant Group’s $37bn stock market listing on Tuesday, thwarting the world’s largest IPO with just days to go, in a dramatic move that left investors and bankers scrambling for answers. Ant said that its listing had been suspended …

Ahead of giant IPO, China’s Ant faces key question: What is it?
4 years, 2 months ago

Ahead of giant IPO, China’s Ant faces key question: What is it?

Al Jazeera  

Ant Group wants to be treated as a tech firm, attracting less scrutiny than a financial company. China’s Ant Group, about to make the biggest public sale of shares ever, poses a basic conundrum: what kind of company is it – a financial colossus or a tech giant? A spinoff from billionaire Jack Ma’s Alibaba Group, Ant presents itself as …

How Jack Ma spearheaded a world record shattering IPO of Ant
4 years, 2 months ago

How Jack Ma spearheaded a world record shattering IPO of Ant

India TV News  

Chinese financial technology giant Ant Group is set to raise about $34.5 billion from its initial public offering in Hong Kong and Shanghai, surpassing the previous record set by Saudi Aramcos $29.4 billion IPO in terms of cash raised last year. Headquartered in Hangzhou, Ant Group is the parent company of China's leading mobile-payment business Alipay. Jack Ma and Ant …

Ant Group IPO gets the green light from regulators for its blockbuster listing
4 years, 2 months ago

Ant Group IPO gets the green light from regulators for its blockbuster listing

CNN  

Hong Kong CNN Business — Ant Group — the crown jewel of billionaire Jack Ma’s tech empire — is one step closer to its highly anticipated market debut. China’s securities regulator said Wednesday that Ant has received the green light for its Shanghai public offering, and has now cleared all regulatory hurdled for a dual-listing that is expected to rake …

Goldman Sachs joins Ant’s up to $30 billion IPO banking syndicate: Report
4 years, 4 months ago

Goldman Sachs joins Ant’s up to $30 billion IPO banking syndicate: Report

Live Mint  

Goldman Sachs has joined the growing list of investment banks working on Chinese financial technology firm Ant Group's initial public offering of up to $30 billion, as a joint lead manager on the Hong Kong leg, two people with direct knowledge of the matter said. Ant, backed by Chinese e-commerce giant Alibaba Group plans to do a simultaneous listing in …

Jack Ma’s Ant seeks $200bn valuation in dual IPO
4 years, 5 months ago

Jack Ma’s Ant seeks $200bn valuation in dual IPO

Al Jazeera  

Billionaire Jack Ma’s Ant Group is seeking a valuation north of $200 billion as it goes public in Hong Kong and Shanghai, people familiar with the matter said, kicking off a much-anticipated market debut for China’s leader in internet finance. The crown jewel of the sprawling Alibaba empire, Ant has been accelerating its evolution into an online mall for everything …

Alibaba’s Ant plans Hong Kong IPO, targets valuation over $200 billion, sources
4 years, 6 months ago

Alibaba’s Ant plans Hong Kong IPO, targets valuation over $200 billion, sources

Live Mint  

Ant Group, the fintech arm of Chinese e-commerce giant Alibaba, plans a Hong Kong float as soon as this year and targets a valuation of more than $200 billion, said two sources with knowledge of the matter. The world's most valuable tech "unicorn" had been looking to sell shares in Hong Kong and mainland China simultaneously, but is now leaning …

Ant Financial to raise $1 bn for investment fund for India, Southeast Asia startups
5 years, 1 month ago

Ant Financial to raise $1 bn for investment fund for India, Southeast Asia startups

Live Mint  

Billionaire Jack Ma’s Ant Financial is planning to raise about $1 billion for a fund that will invest in startups from Southeast Asia to India and help strengthen its foothold in fast-growing mobile internet markets, a person familiar with the matter said. The internet finance company is looking to back more startups in those regions that focus on payments and …

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