(Beijing News) People familiar with the matter revealed that China's billionaire Ma Yun plans to abandon the control of Ant Financial.
The Wall Street Journal of the United States quoted people familiar with the matter and is preparing to transform into a financial holding company Ant Financial Services.The above -mentioned people said that the Chinese regulatory agency did not require Ma Yun to transfer the control of ants, but blessed the decision.
However, the central bank of China has not yet accepted an application for Ant Financial's transformation into a financial company. Before the transformation was completed, the control of ants was unlikely to change.
People familiar with the matter said that Ma Yun has been considering giving up the control of Ant Financial for many years, because he is worried that the company is too dependent on the governance risks brought by the single leading figures of the high -level.Ma Yun did not announce the abandonment of control before, because he did not want to delay the company's first public offering (IPO) plan.
Ant Financial's listing time will be postponed for one year or more
It is reported that the transfer of control means that the listing time of Ant Financial will be postponed for one year or more, because once the company's control is changed, it cannot be listed in the A -share market in mainland China within three years.The provisions of the science and technology board are two years, and Hong Kong is one year.
But some people familiar with the matter said that Ant Financial is not in a hurry to go public, and may still be considered other options, including splitting out some units and listed separately.
According to the prospectus of Ant Financial, although Ma Yun only holds 10 % of Ant Financial's shares, Ma Yun can still control the operation of Ant Financial through Hangzhou Yunbo Investment Consulting Co., Ltd.Given the power to rejection at the level of decision -making at Yunbo in Hangzhou, so Ma Yun still holds 50.52 % of Ant Financial's voting rights.
A person familiar with the matter said that Ma Yun can give up the veto of Hangzhou Yunbo's decision -making and transfer some of his shares to other executives to dilute his voting right in Hangzhou Yunbo, thereby transferring Ant Financial ServicesControl.
Under the pressure of the Chinese government, the cooperation relationship between Ant Financial and Alibaba Group has gradually transformed into a competitive relationship.Alibaba announced in the annual report on Tuesday that the Chairman and CEO Jing Xiandong, CEO Ni Xingjun, Chief Talent Zeng Songbai and the other four were no longer a partner of Alibaba.This announced the strengthening of the business peeling between Ant Group and Alibaba.
