Jack Ma, Chinese billionaire, will cease to be in control of Ant Group as the fintech company seeks to revamp its shareholding structure. The firm disclosed this on its website
January 7, 2023 11:03 AM
According to the statement, the company intends to adjust “the upper-tier shareholding structure of Ant Group , to further optimise corporate governance and to align the voting interests of shareholders with their economic interests”.said after the adjustment, his voting rights will fall to 6.2 percent.
Ant Group, however, said the parties have entered an agreement to terminate their acting-in-concert arrangement for the voting of shares of Yunbo Investment. “The adjustment is being implemented to further enhance the stability of our corporate structure and sustainability of our long-term development.
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