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Jack Ma Plans to Give Up Control of Ant, Dow Jones Says

  • Move could push back Ant IPO by a year or more: Dow Jones
  • Ant has been recasting itself since IPO was derailed in 2020
Jack Ma

Jack Ma

Photographer: Marlene Awaad/Bloomberg
Updated on

Billionaire Jack Ma plans to relinquish control of Ant Group Co., Dow Jones reported, citing people familiar with the matter, part of the fintech giant’s effort to appease regulators following a lengthy crackdown. 

With Ma giving up control, a revival of Ant’s initial public offering could be put back another year or more, Dow Jones reported, citing Chinese securities regulations that require a timeout on public listings for companies that have gone through a change in control.