Finance
Shares of Ant-controlled companies, Alibaba rise after Jack Ma gives up control
SHANGHAI, Jan 9 (Reuters) – Shares of listed Chinese language firms that depend Ant Group as a significant shareholder rose on Monday, after asserting that Ant founder Jack Ma is now not their controller following an overhaul on the fintech big.
Hong Kong-listed shares of Ma’s Alibaba (9988.HK) jumped greater than 5%.
Shares of Longshine Expertise Group Co Ltd (300682.SZ), Jilin Zhengyuan (003029.SZ), Shanghai Golden Bridge Infotech Co (603918.SS), Orbbec Inc (688322.SS) and Hundsun Applied sciences (600570.SS), wherein Ant owns a greater than 5% stake, additionally rose.
Ant stated over the weekend that founder Jack Ma will quit management of the corporate. learn extra
The overhaul seeks to attract a line underneath a regulatory crackdown that was triggered quickly after its mammoth inventory market debut was scuppered two years in the past.
Reporting by Shanghai newsroom; Enhancing by Kim Coghill
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