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Ant Group plans restructuring, paving way for Hong Kong IPO

The Alibaba Group affiliate is looking at excluding its blockchain, database management services and international businesses from a main entity that will be used to apply for a financial holding license in China, the report said. Once the restructuring is complete and Ant secures the license, it can prepare for a public listing in Hong Kong instead of reviving the dual Shanghai-Hong Kong listing plan that was suspended by Chinese authorities in 2020, Bloomberg said. Ant Group declined to comment on the report, while Alibaba did not immediately respond to a Reuters request for comment. ....

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