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June 25, 2022
Finance Technologies

China’s central bank issues Ant Group ultimatum after blocked IPO

The Peoples’ Bank of China (PBOC) has called on Ant Group to overhaul its business and accused it of ignoring regulatory issues in its practices. Chinese regulators have their eye on Ant Group The Financial Times reports Ant drawing up new plans and timetables to meet the Chinese central bank’s demands. Ant Group, formerly known as Ant Financial and Alipay, is owned and operated by Alibaba Group founder Jack Ma, China’s wealthiest individual. In 2020, the group planned to raise more than $34 billion in what would have been the world’s largest IPO. Ant expected a valuation of $313 billion.…
China’s central bank issues Ant Group ultimatum after blocked IPO

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