ant group News

Chinese Authorities Tell Banks, State-Owned Firms to Report Exposure to Ma’s Ant Group

Chinese authorities told the nation’s biggest state-owned firms and banks to start a fresh round of checks on their financial exposure and other links to Ant Group Co., renewing scrutiny of billionaire Jack Ma’s financial empire, according to people familiar …

Berkshire’s, SoftBank’s Early Investments in India’s Paytm Sour After Stock Rout

The collapse in the shares of Paytm following India’s largest initial public offering is proving an expensive lesson for the firm’s early backers. Paytm shares have tumbled 58% since the stock listed on Nov. 18. That’s cut the valuation of …

Investor Warburg Cuts Valuation of Ant Group by 15% to Below $200B: Source

HONG KONG – Warburg Pincus, a major global investor in Ant Group, has cut its valuation of the Chinese fintech company by 15% to below $200 billion due to risks from a restructuring at the Hangzhou-based firm, a source with …

China’s Ant Group Reports 39% Rise in Profits on Investment Gains

Ant Group Co.’s profit rose an estimated 39% in the June quarter, attributed to a gain in investments as billionaire Jack Ma’s fintech giant grapples with the impact of China’s rapidly shifting rules for private enterprise. The company contributed 6.5 …

India’s Paytm Tumbles in Market Debut, as Investors Question Lack of Profits

MUMBAI – Indian digital payments firm Paytm tumbled 25% on its maiden day of trade on Thursday, with investors questioning its lack of profits and the lofty valuations it gained in the country’s largest-ever IPO. Despite fears that Paytm’s market …

Fintech Paytm Gets Regulatory Nod for India’s Biggest Ever IPO: Source

NEW DELHI – Indian fintech firm Paytm has received approval from the capital markets regulator for its $2.2 billion stock market listing that is likely to be India’s biggest ever IPO, a source familiar with the matter told Reuters on …

China Regulators Step Up Scrutiny of Online Insurance Platforms in Widening Crackdown

China’s banking and insurance watchdog is stepping up scrutiny of the nation’s insurance technology platforms, widening a regulatory dragnet that has roiled global investors. The regulator ordered companies and local agencies to curb improper marketing and pricing practices, and step …

Update: India’s Digital Payments Startup Paytm Seeks to Raise $2.23 Billion in IPO

BENGALURU – Indian digital payments leader Paytm, which counts Ant Group and Softbank among its backers, is seeking regulatory approval to raise up to 166 billion rupees ($2.23 billion) in one of the biggest stock market listings in the country. …

Fidelity Slashes Valuation of Restructured Ant Group of China

U.S. asset manager Fidelity Investments has cut its valuation of Chinese financial technology giant Ant Group in half in its latest filings assessing the worth of the shares its funds hold in the group, the Wall Street Journal reported. The …

China’s Ant Eyes Options to Divest Founder’s Stake as Beijing Pressure Grows: Sources

HONG KONG – Ant Group is exploring options for founder Jack Ma to divest his stake in the financial technology giant and give up control, as meetings with Chinese regulators signaled to the company that the move could help draw …