Ant Group: Currently No Plan for An IPO

On December 19th, the official Weibo account of Ant Group posted: “Recently we have noticed that some organizations on multiple platforms claim that ‘Ant Group is about to go public through a reverse merger and has access to internal information,’ and use this to induce netizens to join groups to obtain recommended stock information. Ant Group currently has no plans for an IPO, let alone a so-called ‘reverse merger.’ Please pay attention, be vigilant against fraudulent schemes related to stock recommendations, and avoid financial losses.

On November 3, 2020, the Shanghai Stock Exchange announced that it had decided to postpone Ant Group’s listing plan. Subsequently, Ant Group made comprehensive adjustments to its business and organizational personnel.

On the morning of December 8th, Eric Jing, Chairman and CEO of Ant Group, announced through a company-wide email that following a board resolution, Cyril Han will officially take over as CEO of Ant Group starting from March 1st, 2025. He will be fully responsible for all aspects of Ant’s business and daily management work. In the future, Eric Jing will focus on his role as Chairman and provide full support to Cyril Han and the management team. In addition, on that day Jack Ma attended the celebration of Ant Group’s 20th anniversary and gave a speech on site representing the earliest founding group wishing blessings upon Ant.

SEE ALSO: Jack Ma Speaks at Ant Group’s 20th Anniversary Event

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