China’s major fintech and blockchain innovator Ant Group will now have a new corporate structure where shareholders independently exercise their voting rights.
Chinese billionaire and Alibaba founder, Jack Ma, will no longer control the fintech giant Ant Group as part of recent changes to the company’s corporate structure.that Ma has agreed to give up control of Ant Group as part of the company’s further corporate governance optimization and restructuring.
Once the restructuring process is complete, no single shareholder will have control over Ant, the company said in a statement. Major shareholders like Hangzhou Junhan and Hangzhou Junao will independently exercise their voting rights in Ant, the firm noted.
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