People familiar with the matter said that China Financial Technology Giant Ant Group is considering selling some shares of Indian Financial Technology Corporation Paytm operators in order to keep the shareholding ratio within the prescribed threshold.
According to Bloomberg report, according to people familiar with the matter, the Chinese fintech giant has been discussing the plan to reduce its holdings of ONE 97 Communication Co., Ltd..Earlier, the company's holdings were passively increased due to share repurchase.
People familiar with the matter also said that it is only a preliminary discussion, and the specific details may change due to regulatory and pricing issues.The ants did not immediately reply to the review request.Paytm will not comment.
People familiar with the matter said that ants will be sold for technical reasons rather than political reasons.
People familiar with the matter also mentioned that ants held 24.86 % of the ONE 97 company as of December, but after the number of repurchase caused the number of circulation shares, the proportion of ants' holdings exceeded 25 %.People familiar with the matter revealed that after the repurchase was completed on February 13, the ant had a 90 -day reduction window period.ONE 97 announced the repurchase of up to 8.5 billion rupees (about S $ 135 million) in December 97.
Reports pointed out that the Ant Group is waiting for the green light of the financial company's license to ensure that it can continue to carry out financial technology business.Chinese regulatory agencies approved an Ant Group's plan in December last year to add a registered capital of 10.5 billion yuan (about S $ 2 billion) to its consumer financial sector, marking that this financial technology company has made certain progress.
The Ant Group issued a major change on the announcement on the 7th of last month, announcing that Jack Ma, which announced its founder and had previously controlled 53.46%of the Ant Group, will no longer hold the substantive control of the group.
The Ant Group also stated in the announcement that after this adjustment, the Ant Group's share voting rights are more transparent and scattered. This is a further optimization of the company's governance structure.enhancement.This adjustment will not affect the daily operations of Ant Group and subordinate companies.
