Ant Group Co.’s most lucrative business of consumer lending is likely to become less profitable as the financial juggernaut emerges from a six-month regulatory crackdown aimed at curbing its influence.
(Bloomberg) Ant Group Co. has suspended issuance of securities backed by online loans as Jack Ma’s financial technology giant overhauls its business to meet stringent new rules for the sector, people familiar with the matter said.
Ant Group CEO Simon Hu said to resign, Eric Jing to take position thestar.com.my - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thestar.com.my Daily Mail and Mail on Sunday newspapers.
Bloomberg News, Bloomberg News The Ant Group Co. mascot is displayed at the company s headquarters in Hangzhou, China, on Monday, Sept. 28, 2020. Jack Ma s Ant Group is seeking to raise $17.5 billion in its Hong Kong share sale and won t seek to lock in cornerstone investors, confident there will be plenty of demand for one of the largest equity deals in the financial hub, according to people familiar with the matter. , Bloomberg
(Bloomberg) Ant Group Co. Chairman Eric Jing has emerged contrite and apologetic from the collapse of the fintech giantâs $35 billion initial public offering.
The company is âlooking into the mirror, finding out our shortcomings, and conducting a body check-up,â Jing said in a speech at the 4th China Internet Finance Forum on Tuesday. Ant is striving to âproperly manageâ issues related to the suspension of the IPO, he said.