SHANGHAI : Shares of listed Chinese companies that count Ant Group as a major shareholder rose on Monday, after announcing that Ant founder Jack Ma is no longer their controller following an overhaul at the fintech giant. Hong Kong-listed shares of Ma's Alibaba jumped more than 5 per cent.Shares of
SHANGHAI : Shares of listed Chinese companies that count Ant Group as a major shareholder rose on Monday, after announcing that Ant founder Jack Ma is no longer their controller following an overhaul at the fintech giant.
Shares of Longshine Technology Group Co Ltd, Jilin Zhengyuan, Shanghai Golden Bridge Infotech Co, Orbbec Inc and Hundsun Technologies, in which Ant owns a more than 5 per cent stake, also rose.The overhaul seeks to draw a line under a regulatory crackdown that was triggered soon after its mammoth stock market debut was scuppered two years ago.
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Ant Group says founder Jack Ma to relinquish control of companySHANGHAI: China's Ant Group said on Saturday (Jan 7) that its founder Jack Ma will no longer control the Chinese fintech giant after the firm's shareholders agreed to implement a series of shareholding adjustments that will see him give up most of his voting rights. The move marks another big developm
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