People Familiar With the Matter: Ant Group Will Reorganize and Divest Some Non-Core Financial Businesses Such As Blockchain To Pave the Way for Re-Listing in Hong Kong

07/26 05:10

According to a report by Fenghuang.com on July 26, people familiar with the matter revealed that Ant Group will apply for a financial holding license in China and is considering spinning off its blockchain, database management services and international business from the main entity responsible for applying for the license. At present, Ant Group has communicated the plan to some shareholders. Once the reorganization is completed and a financial holding license is obtained, Ant Group can prepare to launch an IPO in Hong Kong, but it will not seek dual listings in Hong Kong and Shanghai as before. The restructuring plan has yet to be finalized and could change, the people said.

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