Ant Group sells shares of Paytm, India’s largest e-wallet, for 4.5 billion yuan, and is no longer its largest shareholder

08/12 08:15

after Alibaba cleared out its shares in Paytm earlier this year, Ant Group also significantly reduced its stake in the largest payment platform company in India for the first time, and converted the shares into convertible bonds of a Dutch company. It is reported that a subsidiary of Ant Group has exchanged nearly half of its shares in the Indian payment company Paytm for convertible bonds this Monday, and this transaction will execute 10.3% of the shares at the closing price of Paytm on August 4th, worth about 628 million US dollars (4.5 billion yuan). As a result, Ant Group will no longer be the largest shareholder of Paytm, and its stake will be reduced to 13.5%.

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