Page 25 - Eric Jing News Today : Breaking News, Live Updates & Top Stories | Vimarsana

The tally underscores the earnings powers Ant boasted before authorities demanded China’s largest fintech company fold its financial business into a holding company, curtailing its growth prospects Ant Group Co.’s profit rose to US$3.4 billion in the December quarter after Chinese regulators thwarted its record initial public offering and told it to scale back its sprawling business. Billionaire Jack Ma’s fintech giant contributed nearly 7.2 billion yuan to Alibaba Group Holding Ltd.’s earnings, a company filing showed Thursday. Based on Alibaba’s one-third stake in Ant, that transl...

Photo: Wave Money's Facebook May 4, 2021 The proposed investment in Myanmar-based fintech firm Wave Money by Chinese financial services giant Ant Group is far from materialising due to the political situation in the country. SGX-listed Yoma Strategic Holdings (YSH), one of the joint venture partners in Wave Money, said on Monday that the long stop date for the Ant Group deal has not been extended from April 30, 2021. A long stop date is the date within which the transaction has to be completed. Since the proposed investment announcement in May 2020, the long stop date has been extended three ...

BEIJING • Mr Jack Ma's Ant Group plans to offer zero-interest loans to employees who own illiquid stock options, seeking to boost morale after the company's landmark initial public offering (IPO) was suspended last November, sources familiar with the matter said. The loans will be backed by eligible employees' restricted stock options, which will be valued at levels calculated after a 2018 funding round, the sources said, asking not to be identified as they were discussing private information. This will allow Ant to give staff access to liquidity without requiring the company to establish a...

China is probing Ant's speedy listing process after halting IPO Lulu Yilun Chen, Bloomberg News China Tells Ant to Become Financial Holding Firm in Overhaul VIDEO SIGN OUT Chinese authorities are probing the speed with which Ant Group Co.’s ill-fated listing was approved, according to people familiar with the matter. The investigation, being carried out by officials from multiple agencies, has for several months inquired into the process by which China’s securities regulator approved the public offering, the people said, asking not to be identified discussing a sensitive mat...

Billionaire Jack Ma’s (馬雲) Ant Group Co (螞蟻集團) plans to offer zero-interest loans to employees who own illiquid stock options, seeking to boost morale after the company’s landmark initial public offering (IPO) was suspended in November last year, people familiar with the matter said. The loans are to be backed by eligible employees’ restricted stock options, which would be valued at levels calculated after a 2018 funding round, the people said, asking not to be identified as they were discussing private information. That would enable Ant to give staff access to liquidity wit...