Ant Financial needs a waiver from Beijing

Dhaka,  Sat,  27 May 2017
Published : 16 May 2017, 13:33:59
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Ant Financial needs a waiver from Beijing

Ant Financial needs a waiver from Beijing
In order to list overseas Ant Financial requires a waiver from Beijing. Ant owes its current structure as a Chinese company to a controversial spin-off of Alipay by founder Jack Ma in 2011.

The move, which triggered a public spat with Yahoo, a big Alibaba shareholder, was necessitated by new Chinese government regulations on third-party payment services that meant Alipay had to change its ownership structure.

While Ant would likely require a payments licence, or a waiver, if it is to be foreign held, that is a regulatory grey area and a few — much smaller — Chinese payments companies have been able to list overseas regardless.

Lawyers and bankers expect Beijing would grant a waiver, but caution that it could take time. Ant Financial said it has no IPO timetable or location decision as of now.

-SZ-
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