The Business Times
business-time-50
Global Enterprise logo
BROUGHT TO YOU BYUOB logo
SUBSCRIBERS

The questions hanging over Ant Group

google-preferred-sourceAdd BT as a preferred source
    • While Jack Ma’s relinquishing of control could clear the way for Ant Group to revive its IPO, it will not happen this year due to listing regulations, market observers say.
    • While Jack Ma’s relinquishing of control could clear the way for Ant Group to revive its IPO, it will not happen this year due to listing regulations, market observers say. PHOTO: AFP

    Liu Ran &

    Kelsey Cheng

    Published Sat, Jan 21, 2023 · 05:50 AM

    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.

    Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.

    Ant GroupChinaAlibabaCaixin

    Share with us your feedback on BT's products and services

    Feedback

    TRENDING NOW

    Longest-serving chief minister Taib Mahmud’s legacy looms large over Sarawak as a family feud over his estate threatens to expose skeleton’s in the eastern state’s political closet.

    On the board but frozen out: The Taib family feud tearing Sarawak construction giant apart

    ​OCBC head of global consumer financial services Sunny Quek says: “All of us (financial institutions) have a wealth strategy. What’s really going to differentiate one bank from another is the execution."

    OCBC consumer banking chief Sunny Quek aims to double wealth business by 2029

    Thailand’s target is to export seven million tonnes of rice globally in 2026, but the Middle East war has turned the world topsy-turvy with supply disruptions, high oil prices and economic uncertainty.

    Thai and Vietnamese farmers may stop planting rice because of the Iran war. Here’s why

    Hengli Petrochemical's refining complex in China's Dalian in 2018.

    Hengli’s ex-Singapore unit dismisses staff after US sanctions, at risk of being wound down: sources

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More