Wow...those buy Ant Finance share now huat big big hah...Jack Ma propose to big buy back liao...Heng Ong Huat lah

[k1976]

Jack Ma-backed Ant Group Co. is proposing to buy back as much as 7.6% of shares in an effort to retain talent and offer an exit for investors ensnared by a years-long regulatory crackdown at the company.

Ant’s planned repurchase of the equity would value the company at about 567.1 billion yuan ($78.5 billion), it said in a statement on Saturday. The valuation is almost 70% lower than the $280 billion market capitalization the finance technology firm fetched for its scrapped initial public offering in late 2020.

The repurchased stock will be transferred into the company’s staff incentive plan to attract talent, Ant said.

 

[k1976]

https://www.bloomberg.com/news/arti...illion-to-repurchase-shares?srnd=premium-asia

 

[k1976]

Any miss the boat bros?
This is your chance to huat lah

 

[k1976]

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Technology

Ant to Buy Back Shares at 70% Lower Valuation Than at IPO​

• Ant proposes to shareholders to buy back up to 7.6% of stake
• Move offers potential exit for early stage investors

By
Lulu Yilun Chen
+Follow
8 July 2023 at 09:16 GMT+8Updated on8 July 2023 at 10:18 GMT+8

Jack Ma-backed Ant Group Co. is proposing to buy back as much as 7.6% of shares in an effort to retain talent and offer an exit for investors ensnared by a years-long regulatory crackdown at the company.
Ant’s planned repurchase of the equity would value the company at about 567.1 billion yuan ($78.5 billion), it said in a statement on Saturday. The valuation is almost 70% lower than the $280 billion market capitalization the finance technology firm fetched for its scrapped initial public offering in late 2020.
The repurchased stock will be transferred into the company’s staff incentive plan to attract talent, Ant said.
Chinese regulators signaled that the years-long crackdown on the country’s tech sector is coming to an end after it slapped more than $1 billion of fines on Ant and Tencent Holdings Ltd. on Friday. Ant has completed its overhaul ordered by Beijing, shaking up its sprawling fintech operations which have eroded profitability.

China Ends Tech Crackdown With Fines on Tencent, Ant Group
The individual limited partners of two entities that form the majority of Ant’s shareholders — mostly comprised of Ant executives — have voluntarily decided not sell shares back to the company out of the commitment to Ant in the long-term, the company said.

The limited partners also committed to retaining the two dividends in 2022 with Hangzhou Junhan and Hangzhou Junao to enhance the operation’s capital strength.
With the regulatory clampdowns out of the way Ant can refocus on business growth and even pave way for reviving its IPO.

Financial regulators fined Ant 7.12 billion yuan, wrapping up more than two years of probes into the company. Tencent was levied a 2.99 billion yuan fine, according to statements from the central bank Friday.


Tencent and Ant affiliate Alibaba Group Holding Ltd. soared in New York trading. A meaningful relaxation of curbs on Ant — one of the most high-profile casualties of President Xi Jinping’s sweeping clampdown on the country’s tech giants — would send a strong signal that policymakers are following through on recent pledges to support the industry.
Ant Chairman Says China’s Support for Private Firms Remains


Ant is developing large-language model technology that will power ChatGPT-style services, joining a list of Chinese companies seeking to win an edge in next generation artificial intelligence. The company has invested nearly 20.5 billion yuan in research and development last year, doubling its annual spending on such efforts compared with 2019.

 

[k1976]

Any Financial also working on AI de woh

 

[congo9]

70% lower then the ipo price. Truly fuck till the core. Lose big big but will not let you die . That's the most frustrating part.

Looking at the notes debacle by Hyflux. It's more merciful. Death is swift and quite painless.

 

[k1976]

Is

70% lower then the ipo price. Truly fuck till the core. Lose big big but will not let you die . That's the most frustrating part.

Looking at the notes debacle by Hyflux. It's more merciful. Death is swift and quite painless.

Cannot say like that...jiuhu kia told me 希望在明天

 

[k1976]

70% lower then the ipo price. Truly fuck till the core. Lose big big but will not let you die . That's the most frustrating part.

Looking at the notes debacle by Hyflux. It's more merciful. Death is swift and quite painless.

Like that can have stronger determination to huat big big mah

 

[Scrooball (clone)]

70% lower then the ipo price. Truly fuck till the core. Lose big big but will not let you die . That's the most frustrating part.

Looking at the notes debacle by Hyflux. It's more merciful. Death is swift and quite painless.

Lol 70% lower than IPO?

Getting fucked hard in the ass with a rusty rod is less painful!

 

[k1976]

Lol 70% lower than IPO?

Getting fucked hard in the ass with a rusty rod is less painful!

Kena DP gao LI gao li by Alibaba ma

 

[syed putra]

Any Financial also working on AI de woh

Mandarin AI won't be as good as ang Moh AI.

 

[syed putra]

I hope he gives his workers Saturday off after meeting xi jinping. And work stops at 5, not 9 on work days. First time communism has its benefit.

 

[k1976]

I hope he gives his workers Saturday off after meeting xi jinping. And work stops at 5, not 9 on work days. First time communism has its benefit.

No worries....with Alibaba Share soaring up the sky...many will feel huat la huat la effect de Woh..

https://www.bloomberg.com/news/arti...-ant-probe-with-1-1-billion-fine-reuters-says

 

[k1976]

Alibaba Surges on Report China to Unshackle Ant With Fine​

• China likely to announce 8 billion yuan fine, Reuters reports
• Lifting scrutiny bolsters hope of private enterprise revival

0:15
Ant Group Faces Fine of at Least $1.1 Billion: Reuters
Unmute




WATCH: Chinese authorities are likely to announce a fine of at least 8 billion yuan ($1.1 billion) on Ant Group as soon as Friday, Reuters reports. Charlotte Yang reports.Source: Bloomberg
By

Bloomberg News
7 July 2023 at 13:10 GMT+8Updated on7 July 2023 at 17:03 GMT+8


Alibaba Group Holding Ltd. soared on a report that China is preparing to announce a fine of more than $1.1 billion on its fintech affiliate, signaling a wide-ranging probe that has weighed on Jack Ma’s empire for years may finally be drawing to a close.

China’s central bank is expected to disclose the fine against Ant Group Co. as soon as Friday, Reuters said, citing people with knowledge of the matter. That will allow Ant to seek a financial holding company license, revive growth and eventually resurrect plans for an initial public offering, it added.

Alibaba’s shares rose 3.4% in Hong Kong on Friday. The company’s American Depositary Receipts rose about 2.6% in premarket trading before New York exchanges opened.

“The market likes it because scrutiny looks likely to be over and the fine, though big in absolute terms, is very manageable for such a big company,” said Vey-Sern Ling, managing director at Union Bancaire Privee. An 8 billion yuan fine would be less than the estimated 9.6 billion yuan profit that Ant generated in the December quarter.

 

[k1976]

The probe into Ant marked the symbolic start of a withering crackdown on the broader Chinese internet industry, which wiped hundreds of billions of dollars off the value of sector leaders from Alibaba to Tencent Holdings Ltd. Allowing the fintech giant to resume business growth would kindle hopes that Beijing will finally unfetter its giant private sector, part of a nationwide effort to resuscitate a flagging economy.

Ant Group didn’t immediately respond to a Bloomberg request for comment.

Regulators killed Ant’s IPO in 2020 after Ma angered Beijing with a public critique of financial regulators. The government began a clampdown on the private tech sphere shortly after, accusing Alibaba of monopolistic behavior before levying a record fine for the alleged violations.

Even if Beijing lifts the clamps on Ant, the years of relentless scrutiny have reduced the billionaire’s empire to a shadow of its former self.

 

[k1976]

Ant’s bottom line has eroded since the days it was preparing for the world’s largest IPO in 2020, while Alibaba is in the process of splitting into six main businesses from cloud services to meal delivery and logistics.

While investors initially cheered the potential creation of value, Alibaba’s shares have come off their 2023 highs and have shed more than $600 billion of their value since the Ant episode began.

 

[k1976]

Breaking Up Alibaba​

The major restructuring announced in March 2023 that promises to yield several initial public offerings


Source: Data compiled by Bloomberg

Notes: Data is for 12 months ending March 31, 2022. Company has yet to confirm transfer of old divisions to new structure. Excludes $0.4B “Innovation Initiatives & Others” revenues.

 

[k1976]

The central bank ordered Ant to fold all financial units into a holding company in 2021. It also told the firm to open up its payments app to competitors and sever improper linking of payments with other products including its lending services.

Market watchers had since been awaiting the conclusion of the probe to gauge Beijing’s stance on China’s sprawling internet sector.

Authorities had pledged to unwind crackdowns that ensnared private sectors from technology to online education, at a time when the world’s second-largest economy is struggling to get back on its feet.

While the latest development may signal Beijing’s efforts to follow through on its pledges to support the sector, more solid actions may be required to stabilize investor confidence.

Ant is still awaiting a regulatory greenlight to start reviewing its application for setting up the financial holding company and resume its IPO in the longer run.

 

[k1976]

While Ant fetched a valuation of $280 billion pre-IPO, the myriad regulations imposed over the past two-plus years mean it’s now worth a fraction of that, as it’s now more “fin” than “tech.”

Ma gave up his controlling rights of Ant earlier this year, complicating its prospects for an IPO anytime soon.

Companies can’t list domestically on the country’s so-called A-share market if they have had a change in control in the past three years — or in the past two years if listing on Shanghai’s STAR market, which is geared toward new technology companies. For Hong Kong’s stock exchange, this waiting period is one year.

 

[congo9]

CCP is the ultimate value destroyer.
The CCP don't know how to run a proper business. It's better to let businesses do it. The CCP only know how to corrupt their own pocket and fuck pussy.