[８日 ロイター] – Ant Group, the financial arm of Chinese e-commerce giant Alibaba Group, has no plans to launch an initial public offering (IPO), it said in an emailed statement to Reuters on Monday.
“We are focused on correcting and optimizing our business and have no plans for an IPO,” a spokesperson said.
Ant announced on Thursday that its founder, Jack Ma, will relinquish control of the company. Shareholders agreed to implement a series of share adjustments, which resulted in the surrender of most of its voting rights.
In order to be listed on the Chinese domestic A-share market, three years have passed since the change of management. The Shanghai Stock Exchange’s Star Market, dubbed China’s version of the Nasdaq, will have to wait two years, while the Hong Kong market will have to wait a year.
Ant once planned a $37 billion IPO, but was forced to cancel at the last minute in November 2020.
