China's Ant to restructure as financial holding firm under enforced revamp

China's Ant to restructure as financial holding firm under enforced revamp

Ant Group's Hangzhou Headquarters. Source: Ant Group

China’s Ant Group, the fintech giant whose $37 billion IPO was derailed by risk-wary regulators days before it was due to list in November, will restructure as a financial holding company, the country’s central bank said on Monday.