China’s central bank has agreed that Ant Group’s mobile payment app Alipay has no controller, a crucial step in the fintech giant’s overhaul deemed necessary to put its much-anticipated initial public offering back on track, reports the South China Morning Post. The restructuring saw the voting rights of founder Jack Ma shrink to just 6.21% from…
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The billionaire’s share of the voting rights are now divided among Hangzhou Junhan Equity Investment – owned by Ma and four others with 31.04 per cent of…
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