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Ant Group raises registered capital by 47% to $5.4 billion

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Ant Group raises registered capital by 47% to $5.4 billion

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Early Newspaper

Chinese fintech giant Ant Group has increased its registered capital by 47% to RMB 35 billion ($5.44 billion), data from corporate data site Tianyancha showed. In a Monday statement, the Alibaba affiliate said that the increase was set to meet regulatory requirements and business needs. In April, Beijing ordered Ant to overhaul its business to address issues in antitrust, user information collection, and others. [Tianyancha, in Chinese]

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Ant Group raises registered capital by 47% to $5.4 billion