A second thought came from the beginning of last week that the founder of Xmas didn’t have any influence on the activities of the Anti group anymore. It would allow the holding to begin preparations for a public offering, which was already obstructed in November 2020 due to the specific demands of the Chinese authorities. Representatives of the Chinese giant said that the company hasn’t thought to enter the stock market.
Image source: Reuters. Aly Song from Reuters.
According to Reuters, who received this information from the Ant Group representatives, in November 2020, Chinese authorities vetoed the placement of the holdings and demanded a restructuring, where billionaire Jack Ma was to lose his influence over the entire financial sector. A move to take three years away from the market has largely improved its value. For a place in Shanghai, wait is limited to two years, for a year for Hong Kong.
According to Ant Group representative, now the company intends to concentrate on cleaning and optimizing the business, in the plans of management do not include preparations for the public offering of shares. Recall that in November 2020, Ant Group planned to raise up to 387 billion dollars on the stock market during the relevant events, but the IPO was thwarted, and the founder of the holding disappeared from the public sphere for a long time, and even caused some public concern about his fate.
Last year, analysts estimate Ant Group capitalization at 70 to 151 billion dollars. The company deals in the online payment, insurance, asset management and credit processing. The personal wealth of the founder of the holding, Jack Ma, is still estimated at 34 milliards of dollars. Adding more people to the public and charitable organization, as well as his retirement from senior positions under this law was encouraged. They would help lead the Democratic Party’s top political leaders.
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