Alibaba Group owns a 33 percent interest in Ant Group. Previous NextShares in Alibaba Group (9988) whose affiliate Ant Group is under orders by the mainland regulator to overhaul its business, fell further by midday today in Hong Kong trade. Jack Ma Yun's Ant Group, was ordered by the central bank on Sunday to overhaul its business and get back to its original operation as a payment services provider as soon as possible. Alibaba Group owns a 33 percent interest in Ant Group. Alibaba said in a statement it will cooperate with regulators in their investigation, and that its operations remain normal, Bloomberg reported.

Source: The Standard December 28, 2020 03:22 UTC