The questions hanging over Ant Group
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THE clouds hanging over Ant Group are finally parting.
Following the startling suspension of its would-be record-setting US$34.5 billion initial public offering (IPO) in November 2020, the fintech company was plunged into an extensive restructuring that has been ongoing for the past two years as regulators clamped down on misconduct in the industry.
Ant Group’s business, operations and management all went through tremendous changes, including decoupling the company’s highly lucrative consumer lending business from its payments service Alipay, and improving its corporate governance.
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