Chinese nationals step down from Paytm board ahead of planned IPO; no change in shareholding
NEW DELHI, July 7: All Chinese nationals on the board of digital payments firm Paytm have been replaced by US and Indian citizens, while there is no change in existing shareholding, according to a regulatory filing of the company.
Alipay representative Jing Xiandong, Ant Financial’s Guoming Cheng, and Alibaba representatives Michael Yuen Jen Yao (US citizen) and Ting Hong Kenny Ho have ceased to be directors of the company, as per the regulatory document.
According to a source, Paytm now has no Chinese national on its board.
Paytm IPO: Digital payments firm to file documents next week, to raise Rs 16,600 crore
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Chinese nationals step down from Paytm board ahead of planned IPO; no change in shareholding
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